In one of the most dramatic developments which took corporate world by surprise and left media puzzled, the Tata Sons recently dumped its chairman Cyrus Mistry and made Ratan Tata the interim chairman. Tata will head the group for the next four months, till a search committee finds a new successor.
So far the entire Mistry-Tata row has been politically untouched, but now BJP Rajya Sabha MP Subramanian Swamy has given a new twist to the controversy by describing Ratan Tata as the most corrupt chairman in the history of the Tata group.
He also alleged Ratan Tata’s involvement in scams such as the 2G scam, Air Asia scam, the Vistara partnership and the Jaguar deal.
“He has taken the step to save himself from getting caught in scam deals, but he will not be spared whenever he is tried in court,” the BJP leader said.
“The government should intervene and set up an SIT. I have written to the Prime Minister and informed him about the sections involved where Ratan Tata has breached the Indian Penal Code,” he said.
Reportedly, Tata Sons was unhappy with Mistry’s approach of shedding non-profit businesses, including the conglomerate’s steel business in Europe, and concentrating only on cash cows. At the same time, Mistry has accused the company of governance failures and unacceptable interference by Ratan Tata in running the affairs of the group.