In an emotional speech at EGM, referring to feud with Former Tata Sons Chairman Cyrus Mistry, Ratan Tata has indicated that there has been definitive move to damage his reputation in the last two months.
"There has been a move to damage my personal reputation and the reputation of this great group. These days are very lonely because newspapers are full of attacks, most of them unsubstantiated. Nevertheless very painful," Ratan Tata said in an emotional speech at EGM.
"Coming here this week with all the shareholders I felt so moved emotionally and I am deeply touched with the warmth and support and affection they have shown. I could not leave here today without expressing my deepest gratitude to the shareholders. It has been a pleasure to be here.
I could have gone either way but your support has been over whelming and remarkable. It has more for my sense of goodwill today than anything else that has happened," he further added.
Ever since, Mistry quit Tata Sons, he has been trying to dig out discrepancy in the management and has also filed a complaint about failure of corporate governance within Tata Sons.
Such corporate infighting is not rampant in India, but experts believe that there is an urgent need to relook at the role of independent directors of the private organisations.