Ratan Tata saving British Steel at the cost of Tata Steel India: Nusli Wadia

In a letter to Tata Steel's shareholders, Tata Sons' Independent Director Nusli Wadia said that it is ironic that the founder Jamshedji Tata started Tata Steel to fight British Steel and now Ratan Tata is trying to save British Steel (Corus/Tata Steel Europe) by deploying huge resources at the cost of Tata Steel India.

"The very purpose and foundation of Tata Steel by the great Indian visionary and nationalist Jamshedji Tata in 1907 was to fulfil the dream of 'Make in India' when all the steel consumed in India was being imported from the UK," Wadia said in the 15-page letter.

"It was his pride and belief in India that is today being espoused by our respected and honourable Prime Minister Shri NarendraModi through his vision 'Make in India'. Tragically in contrast we now read in the British and Indian press 'Ratan Tata hailed as saviour of UK Steel Industry'," Wadia added.

Hitting back at Tata Sons for seeking his removal as independent director, Wadia said, "the alleged reasons seeking my removal do not even remotely relate to my performance or my conduct as an Independent Director of Tata Steel for 37 years."