Interim Chairman of Tata Sons, Ratan Tata today spoke to the shareholders of Tata Chemicals at the end of the extraordinary general meeting convened for the removal of Nusli Wadia as an independent director.
Tata said that the events of the last two months had caused damage to his personal reputation. He expressed his gratitude to the shareholders for standing by the company and the group after the dismissal of Cyrus Mistry as Tata Sons chairman sparked the biggest corporate feud India has seen in almost a decade.
Here is the full text of Ratan Tata's speech:
I shall not take very much time. 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. And coming here this week with all the shareholders, I've been so moved, emotionally and deeply touched by the warmth and the support and the affection that they have shown.
I could not leave here today, without at least expressing my deepest gratitude to the shareholders. It’s been a pleasure to be with you. It could have gone either way, but your support has been overwhelming and remarkable. It has done more for my sense of goodwill today, this week, than anything else that has happened.
The group has been there for a hundred and fifty years. It has been based on governance, fair play. I think the truth will prevail, whatever the process maybe, however painful it maybe, the truth will prevail and the systems of our country will govern. Once, again I thank all of you for your support and wish you a happy new year. Thank you so much.
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