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Tata Sons has told Nusli Wadia that it can seek his removal from the boards of various group companies without providing any reason.
The Tatas have also told Wadia that his defamation notice is misconceived and unfounded.
In a three-page letter written to Wadia, seen by BusinessLine , Tata Sons’ chief legal and group general counsel Bharat Vasani said: “There is no requirement, legally or otherwise, for us as a shareholder to even provide any reasons while seeking your removal in terms of Section 169 of the Act.”
Wadia, an independent director on the boards of several Tata group companies, had sent three notices last week to Tatas asking it to prove that his actions were in concert with Cyrus Mistry.
This followed a notice from Tata Sons asking group companies to oust Wadia from the board.
Wadia had also alleged that the Tata group was on a personal vendetta in defaming him by attributing motives to his actions as an independent director.
He had threatened to take legal action, if Tatas did not withdraw the notices issued to oust him.
In response, Tata Sons said Wadia’s contentions were baseless, false and defamatory. “It is denied that the contents of our special notice are defamatory as alleged or otherwise...your correspondence is obviously an attempt to try and carry on a media trial on your defamation notice which is misconceived and unfounded.... we do not wish to be drawn into this correspondence which has obviously been undertaken for ulterior purposes to distract attention and besmirch the reputation of Tata Sons and its directors and officers,” Tata Sons said in the letter to Wadia.
“It is denied that our Special Notice constitutes a personal vendetta against you or that it is vindictive action, as alleged or otherwise. It is denied that anything stated in our Special Notice was intended to or has caused damage to your reputation as a professional or has caused irreparable injury, as alleged or otherwise,” it added.
Wadia had also expressed surprise in the manner in which Tata group was acting considering he had great relationship with JRD Tata and Ratan Tata in the past.
Tata Sons, however, dismissed this linkage as a personal matter.
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