Mumbai: Amid bitter power battle, ousted Chairman Cyrus Mistry on Monday resigned from all listed Tata Group companies.
In his statement, Cyrus Mistry said that he will take legal way against the Tatas.
He said: “My efforts were aimed at reforming the system, which may well be the reason for my removal,”
He also added: “Unknown to the world, I had confronted serious governance problems and ethical issues for a considerable period.”
The conduct of those at the helm of affairs in the recent weeks has further unmasked the absence of ethical standards, he said.
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“By removing myself from general meetings, I reinforce my position that this is not a fight for position but for a secure reform,” said Cyrus Mistry.
Nothing cogent has been forthcoming from the Tata’s on my ouster,” he says in the statement.
“I am shifting this battle to a larger platform,” he said adding, ” events of the past 8 weeks have been about saving the legacy.”
Earlier a week ago, he was removed as a director of Tata Industries in the voting at a crucial general meeting called particularly to remove him from the post.
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