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‘Blind Trust’ is a popular concept abroad when individuals are keen to avoid any conflicts with another entity their firm has a relationship with. It allows the owner of stake to relinquish the control of the company during the period when he has other responsibilities. Tata preferred handwritten notes in his correspondence with Mistry, reflecting his desire to keep differences strictly confidential, between him and his then successor.
Tata had reasoned in the said letter that while he was supportive of every action and decisions that Mistry took as chairman and wanted to ensure that he would not want to be “a ghost in the corridor”, he reminded Mistry that he (Tata) will make every effort to safeguard what is in the best interests of the Tata Trusts.
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(Sourced from agencies, feature image courtesy:kstart.in)
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