MUMBAI: Tata Sons chairman emeritus Ratan Tata and its ousted chairman Cyrus Mistry have had developed difference of opinion as early as in 2013, private correspondence between the two reveals.
Tata, in a handwritten letter dated September 24, 2013, seemed alarmed at what he thought were clear conflicts that Mistry as chairman of Tata Sons should avoid. This included disassociating himself (Mistry) from family businesses to ensure that there was no conflict of interest brought about by the personal holdings in Tata group companies.
According to Tata’s letter, this was confirmed as discussed by the selection committee and agreed by Mistry. The letter went on to prod Mistry to set up a ‘Blind Trust’ that will disassociate the latter from his Tata shareholding, and also not to have any transaction of business between Shapoorji Pallonji Group and Tata Group as long as Mistry was its chairman.
