Mistry questions Tata Group performance; says group’s loss at Rs 13,000 cr in 2019

Cyrus Mistry, who was unceremoniously removed as the chairman of Tata Sons alleging non-performance, in an affidavit to the Supreme Court on Friday said the Tata Group had an adjusted net loss of Rs 13,000 crore in 2019 — the worst losses in three decades.

In his reply to the Tatas’ petition challenging his reinstatement by the NCLAT last December, Mistry also demands that group chairman emeritus Ratan Tata should reimburse all the expenses to Tata Sons since his departure in December 2012 in keeping with best global governance standards.

Early January, the Tatas challenged the December 18, 2019, order of the National Company Law Appellate Tribunal (NCLAT) in the Supreme Court, which had stayed the order. Then the apex court on May 29 began hearing on the case and asked all parties concerned to submit their replies within four weeks.