Tata Sons Interim Chairman Ratan Tata on Friday claimed that a “wilful, well-orchestrated” attempt was being made to destroy the reputation of the Tata Group. In a letter to employees, he said that the last three months had been “turbulent and wasteful” for the group, and that its ethics and values had been challenged by people “known to not practice what they often preach”, IANS reported.
“I feel proud that through this difficult period, there has been an overwhelming groundswell of support from so many of you,” Ratan Tata said in the letter. “As we approach the new year, we must all resolve to put these events of the past few months behind us and re-dedicate ourselves to re-establish the Tata Group’s leadership in the many areas in which we operate.”
Calling the Tata Group an institution “built on sustaining livelihood in the community it serves”, the Tata Sons interim chairperson emphasised the need to demonstrate that the conglomerate had protected “the vision and values of our founding fathers”.
The letter was sent to the group’s employees a day after Tata Sons demanded that ousted chairman Cyrus Mistry return all confidential data and documents in his possession and not retain any copies of the information either. It also demanded a written confirmation that Mistry had not shared any “confidential information” regarding the holding company to his family members, relatives or affiliates, as well as to firms controlled by him and his family.
Responding to the second notice, Mistry’s office said it was “ironic” that Tata Sons was widely publicising that their confidentiality had been circulated in the media. On December 19, Mistry had decided to resign from all Tata Group companies, saying it was time to “be more incisive in securing the best interest of the Tata Group”. He had accused Ratan Tata of staging “an illegal coup” on October 24, the day he was stripped off chairmanship of the company.