Tata Sons has said that Cyrus Mistry’s resignation from the board of group companies is a deliberate strategy on his part, coming from the knowledge that the overwhelming majority of shareholders do not support his actions.

In a statement, Tata Sons also accused Mistry and his family companies of not upholding the high standards and values set by Jamsetji Tata and his successors.

“Mistry has done precious little to build the goodwill of the Tata Group, built through the hard work and dedication of its employees,” the statement said.

“Unfortunately, Mistry continues to make baseless, unsubstantiated and malicious allegations using selective disclosures of information against the very institution he claims to have the highest regard for. Tata Sons has responded to his charges on multiple occasions and will respond adequately to any allegations made by Mistry,” it added.

“Mistry has been a director of Tata Sons since 2006 and as such was fully involved in all the key decisions that the Tata Group had taken over the years.

“It is unfortunate that it is only on his removal as chairman that he began making allegations and misrepresentations about business decisions he was party to for over a decade,” it further said.

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