India: Cyrus Mistry, in e-mail criticizing Ratan Tata, says group faces $18b in writedowns

India: Cyrus Mistry, in e-mail criticizing Ratan Tata, says group faces $18b in writedowns

Ousted Tata Sons chairman Cyrus Mistry has claimed that interference from Ratan Tata pushed him “into the position of a ‘lame duck’ chairman”, raised a raft of corporate governance issues in the Tata group, and warned of a Rs1.18 trillion writedown, over time, from five unprofitable businesses. He added that the net worth of the group was Rs1.74 trillion.

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