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I Wasn’t Allowed to Defend Myself: Cyrus Mistry in ‘Protest’ Email

The e-mail said Mistry’s removal “without an explanation” left him “shocked beyond words”.

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Cyrus P Mistry said he was wrongfully ousted and criticised the conglomerate’s directors for failing to perform their fiduciary duties, The Economic Times reported on Wednesday, citing an e-mail.

Mistry was replaced as the chairman of Tata Sons board on Monday by Ratan Tata.

The e-mail was sent to board members and major stakeholders. In the e-mail, he called the decision invalid and illegal and said that it had left him "shocked beyond words" that the board removed him without an explanation.

I have to say that the board of directors has not covered itself with glory. To “replace” your chairman without so much as a word of explanation and without affording him an opportunity to defend himself... must be unique in the annals of corporate history.
Cyrus P Mistry in the e-mail
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“The sudden action and lack of explanation has led to all manner of speculation and has done my and the group’s reputation immeasurable harm,” the former chairman said in the e-mail.

“The letter is to emphasise the total lack of corporate governance and a failure of the directors to discharge their fiduciary duty to stakeholders of Tata Sons and the group companies,” Mistry alleged in the e-mail.

The Economic Times could not get a comment from either Mistry or Tata Trusts.

Mistry also said that the group's joint ventures with Air Asia and Singapore Airlines were at the behest of Tata.

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