Reuters Mumbai, Maharashtra, India
Dec 20, 2016, 02.44 PM
India's Tata Sons, which is entangled in a pitched battle against its former chairman Cyrus Mistry, has said that it is consulting its lawyers and will contest the allegations leveled by the former top boss.
The statement issued by Tata Sons was in response to the legal proceedings launched by Mistry on Tuesday accusing the $100 billion conglomerate of "oppression and mismanagement."
Tata Sons said Mistry's assertions has been a "personal issue" and reflects his deep animosity towards the group patriarch Ratan Tata.
"Mistry has not been able to graciously accept the decision of the very same Board that appointed him," the company said in a statement.