Nusli Wadia files defamation case against Ratan Tata, Tata Sons; seeks Rs 3,000 crore in damages
The spat between Tata Group and Mistry escalated on Thursday with industrialist Nusli Wadia filing a defamation case against Tata Sons and seeking Rs 3000 crore in damages.
New Delhi: Industrialist Nusli Wadia on Thursday filed a defamation case against Tata Sons in the Bombay High Court and sought damages for harming his reputation in trying to remove him as an independent director from three of Tata Group companies.
According to reports, the industrialist has dragged the Tatas to court filing a defamation case against chairman emeritus Ratan Tata, Tata Sons and directors of the company.
While the quantum of the damages was not known immediately, reports stated that Wadia has sought Rs 3,000 crore in damages.
The case will come as a major blow for the Tatas that are in a boardroom battle with Cyrus Mistry after having sacked him as the chairman of Tata Sons on October 24.
Following the removal of Mistry from the post of chairman, the Tatas alleged that Wadia was supporting the ousted chairman, thus seeking to remove him from the board of the company too.
Tata Sons had also asked other firms of the group such as Tata Motors, Tata Steel to remove Wadia from the board.
To this, the Wadia group chairman had filed a defamation notice against the Tatas on November 21 and sought an immediate withdrawal of allegations charged against him to the board members which the Tatas confirmed they got the received the notice.
However, with the Tatas failing to comply to withdraw the allegations after two notices of defamation, Wadia on Thursday filed a defamation case in the court and sought Rs 3000 crore in damages.
Meanwhile, the Bombay High Court will on Friday hear a suit filed by four shareholders challenging the proposed removal of industrialist Nusli Wadia as an independent director on the company board.