Nusli N Wadia has made a mockery of himself by filing a defamation case against Tata Sons and interim Chairman Ratan Tata. The integrity and honesty of Ratan Tata cannot be questioned such has been his stature and track record over the years. ‘Ratan’ is a Gem as his name suggest and the Tata’s are known for their philanthropic work apart from keeping most of their wealth in Trusts that serve the poor. Ratan Tata’s name has been tarnished in this Tata-Cyrus Mistry tussle in protecting the Tata brand name which stands for highest standards of corporate governance. Wadia without much stake in Tata companies is seeking some cheap publicity or undue compensation when it should be the other way round where Ratan Tata should be suing them in the courts. Shareholders are supreme in public limited companies and both Cyrus Mistry and Nusli Wadia have been ousted from board membership from most companies and they should take this decision with grace and sell their little stake if they feel their investment is at risk. My advice to both Mistry and Wadia would be to not wash their dirty linen in public and settle their differences with Ratan Tata amicably than in court battles which would serve none except perhaps the lawyers!
(The views expressed by the author in the article are his/her own.)