InvestorQ : Why has Cyrus Mistry once again decided to take on the Tata Group about its performance?
Aashna Tripathi made post

Why has Cyrus Mistry once again decided to take on the Tata Group about its performance?

Answer
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Tisha Malhotra answered.
3 months ago


The battle has continued unabated since Cyrus Mistry was unceremoniously removed as chairman of Tata Sons on grounds of non-performance. In a latest affidavit to the SC, Cyrus Mistry has alleged that the Tata Group had adjusted net loss of Rs.13,000 crore in 2019; the worst in 30 years. It may be recollected that on 24 October 2016 Mistry was removed in a boardroom coup. According to Mistry, this loss was arrived at by excluding the huge dividend that the group cash-cow TCS was paying. In a previous set of allegations, the Tatas had evaluated Mistry’s performance by excluding TCS dividends. Mistry has now alleged that if the same principle was applied now, then the group losses would have been Rs.13,000 crore for FY-19.