Truth shall prevail in the long run, says Ratan Tata

Mumbai: Amidst the ongoing war of words between the Tata Sons and its rival camp led by the ousted chairman Cyrus Mistry, Ratan Tata, on Friday alleged that there is a definite move to damage his personal reputation and that of the whole group.

While addressing the extra-ordinary general meeting of shareholders of Tata Chemicals, Mr Tata even blamed a section of the media for carrying unsubstantiated reports about him and the group.

In a emotionally charged speech, Ratan Tata who was appointed as the interim chairman of Tata Sons in November thanked shareholders for their support and said ‘truth will prevail however painful it may be’.

“Over the last two months there has been a definite move to damage my personal reputation and the reputation of this great group – the Tata group.  And these days are very lonely because the newspapers are full of attacks, most of them unsubstantiated but nevertheless very painful. The group has been there for 150 years. It has been based on governance, fair play. I think the truth will prevail, whatever the process may be, however painful it may be. The truth will prevail and the systems in our country will govern,” Mr Tata said.

Over the past few weeks, the Mistry camp has raised serious violation of corporate governance norms in Tata group firms and had also blamed Mr Tata for several unprofitable investment decisions.