Cyrus Mistry takes his battle with Tata Sons public
New Delhi — Days after he was ejected as chairperson of Tata Sons, Cyrus Mistry has stunned India with a hostile five-page letter outlining governance failures, poor decisions and looming write-downs at one of the country’s most revered conglomerates. Mistry’s e-mailed parting shot, leaked late on Wednesday, turned into a viral sensation in India by Thursday morning, captivating readers on social media and prompting shocked headlines in leading dailies, as the government told politicians to stay out of what has become a public spat. The country’s two largest exchanges, citing the leaks, have demanded clarity from Tata’s 27 listed units. At least one unit, Tata Steel, dismissed talk of write-downs. But shares in all of the group’s major listed companies fell on Thursday. Tata Sons has not commented since the letter surfaced. "Mistry tears into Tata," the leading Times of India daily had on its front page. Public confrontations of this nature are rare in Indian corporate life, particu...
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