Tata Sons demands Cyrus Mistry to return all confidential information, documents
In its second legal notice served to the ousted chairman Cyrus Mistry in as many days, Tata Sons demanded the latter to return all confidential information and documents related to the company in his possession.
Mumbai: In its second legal notice served to the ousted chairman Cyrus Mistry in as many days, Tata Sons demanded the latter to return all confidential information and documents related to the company in his possession.
The letter, sent by Tata Sons` lawyers, further demanded that Mistry sign a letter pledging not to disclose any confidential information regarding the company, including to affiliates, relatives and family members.
"We have credible information that you have wrongfully and dishonestly taken movable property being confidential information," said the letter, a copy of which was seen by Reuters.
The notice comes after Tata Sons, the holding firm for the $100 billion Tata conglomerate, on Tuesday accused Mistry of breaching confidentiality rules, and said it would take legal action against him.
In today's notice served through its law firm, Tata Sons said Mistry was privy to confidential and commercially sensitive information and documents in his capacity as executive chairman and director of the company and its operating firms.
"Under applicable low, you are duty-bound to (a) preserve the confidentiality of all such information and data that you are privy to in your capacity as director and (b) not disclose or use such information for any purpose whatsoever," it said adding any breach of such legal duties would cause irreparable harm and injury to Tata Sons.
Mistry, it said, is in "possession of highly valuable information and documents" pertaining to Tata Sons and Tata Group companies, which he has "disclosed" without prior authorisation from the board.
"We have credible information that you have wrongfully and dishonestly taken movable property being Confidential Information, out of the possession of the company, from the premises of the company, without taking the appropriate consent of the company," the notice said adding such an act was an offence punishable by law.
It asked him to "immediately return to the company all confidential information" in his possession and "not retain any copies" as well as "cease any and all use or disclosure of Confidential Information".
Also, Tata Sons wanted Mistry to execute an undertaking stating that he has returned all the confidential information without retaining any copies.
The undertaking also wants Mistry to state that he will "preserve the confidentiality of all Confidential Information and not use or disclose such Confidential Information for any purpose whatsoever and shall not provide any such Confidential Information to any affiliates, relatives and family members".
With Agency Inputs