Mumbai: Mr Cyrus Mistry the former chairman of the Tata group who was ousted in October, maintained on Tuesday, that since the process of ousting him as chairman was illegal he still continues to be a Tata employee.
Sources close to Mr Mistry said late on Tuesday evening that this was his response to the statement issued by the Tata group late Tuesday evening saying that the Corporate Governance Guidelines that Mr Mistry had quoted earlier prescribes that a Tata employee must step down from the Boards of Tata companies, after he ceases to be a Tata employee.
In yet another twist to the ongoing tussle between the Tata group and Mr Mistry, the Tatas insist that after being replaced as chairman of Tata Sons, Mr. Mistry ceases to be a Tata employee.
“It is he who is violating the Guidelines that he himself propounded,” the group spokesperson said.
Mr Mistry had in a statement said that it is a matter of record that the governance guidelines developed under him in consultation with the board of directors of Tata Sons, and CEOs and independent directors