Tata Sons has reacted strongly to the allegations made by its earstwhile chairman Cyrus Mistry.
In a statement, Tata Sons said, "Tata Sons strongly rejects the statement from Mr. Cyrus P. Mistry which seeks to insinuate wrongdoing in the affairs of Air Asia India by Mr. R. Venkataramanan. On the contrary, Air Asia India with the support of Tata Sons, has taken definitive steps both in civil and criminal courts which have cleared the air in relation to the mischievous allegations made by SP Group companies in the NCLT proceedings."
Tata Sons is of the view that the frivolous allegations levied by Cyrus Mistry and the SP Group are value destructive.
It is ironical that Cyrus Mistry continues to make statements that his actions are in the interest of the Tata group. On the contrary, his actions thus far have consistently harmed the reputation of the Tata group. Tata Sons continues to evaluate its legal options in this regard,' the statement said.
Earlier this wek, Tata Trusts' Managing Trustee R Venkatramanan filed a Rs 500 crore criminal defamation case against Mistry, Shapoor Mistry and others.
IANS reported that he process was initiated by Metropolitan Magistrate K.G. Paldewar and accordingly, Mistry, the ousted Chairman of Tata Sons, and other directors of Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd, will be tried for criminal defamation.
Venkataramanan has accused Mistry and others of making false and defamatory statements against him and thus damaging his reputation.
At the hearings, the court upheld the arguments of Venkataramanan`s counsel Parvez Memon that the Constitution`s Article 21 protecting a citizen`s right to life is inclusive of the right to live with dignity and that all are equal in the eyes of the law under it.