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BRIEF-Tata Sons rejects Mistry's statement on wrongdoing in affairs of Air Asia India by R. Venkataramanan
July 5, 2017 / 1:06 PM / 2 months ago

BRIEF-Tata Sons rejects Mistry's statement on wrongdoing in affairs of Air Asia India by R. Venkataramanan

July 5 (Reuters) - Tata Sons Ltd

* Rejects statement from Cyrus P. Mistry which “seeks to insinuate wrongdoing in affairs of Air Asia India by Mr. R. Venkataramanan”

* Says “Tata Sons denies any conduct which could be said to be oppressive or resulting in mismanagement”

* Air Asia India took steps both in civil, criminal courts which “cleared air” in relation to allegations by sp group cos in NCLT proceedings

* Says Mistry’s actions “have consistently harmed reputation of Tata group”

* Continues to evaluate its legal options relating to the matter

* “Frivolous allegations levied by Cyrus P. Mistry and SP Group are value destructive” Source text - [A statement from Tata Sons

Mumbai, July 5, 2017: Tata Sons strongly rejects the statement from Mr. Cyrus P. Mistry which seeks to insinuate wrongdoing in the affairs of Air Asia India by Mr. R. Venkataramanan. On the contrary, Air Asia India with the support of Tata Sons, has taken definitive steps both in civil and criminal courts which have cleared the air in relation to the mischievous allegations made by SP Group companies in the NCLT proceedings.]

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