A day after being sacked as Tata Sons chairman, Cyrus Mistry wrote a reply letter to the board yesterday, making several shocking revelations about his role in the company and the company’s financial health, among other things.
In the letter, Mistry expressed disbelief on being sacked on the basis of non-performance and said he was made chief of the conglomerate when it was already debt-laden and saddled with losses.
As a defence of his performance, Mistry pointed out in the letter that under his chairmanship, the group’s net worth had risen from Rs 26,000 crore to Rs 42,000 crore.
Here’s the letter reproduced in its entirety:
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