BusinessCyrus Mistry Stopped Tata Contracts For Family Firm, Says His Office
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Cyrus Mistry Stopped Tata Contracts For Family Firm, Says His Office
In December 2012, Mr Mistry had taken over as chairman of Tata Sons
Mr Mistry had stopped Tata contracts for family firm, his office said
Shapoorji Pallonji group is a big shareholder in Tata Sons
Cyrus Mistry had taken over as chairman of Tata Sons in December 2012.
Soon after he took over as chairman of Tata Sons, Cyrus Mistry had asked group companies not to award new contracts to the Shapoorji Pallonji group, Mr Mistry's office said on Tuesday. The Shapoorji Pallonji group is owned by Mr Mistry's family.
"As early as October 2013, Cyrus Mistry had written to all CEOs and MDs of Tata Companies stating that no new work should be given to Shapoorji Pallonji Group in the interest of good Corpor...