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Nusli Wadia Files Defamation Case Against Tata Sons, Seeks Rs 3,000 Crore

Nusli Wadia has filed a defamation case against Tata Sons, seeking Rs 3,000 crore in damages, sources told CNBC-TV18 on Thursday.

CNBC TV18

Updated:December 15, 2016, 11:33 PM IST
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Nusli Wadia Files Defamation Case Against Tata Sons, Seeks Rs 3,000 Crore
File photo of Nusli Wadia. (PTI)

Mumbai: Industrialist Nusli Wadia has filed a defamation case against Tata Sons, seeking Rs 3,000 crore in damages, sources told CNBC-TV18 on Thursday.

The defamation notice reportedly mentions Tata group interim chairman Ratan Tata, sources said, adding that Wadia had send three letters to different Tata companies before sending the notice. The latest of these letters was sent 10 days ago but none of these elicited a response, sources said.

The Bombay High Court is expected to take up the matter on December 19.

Nusli Wadia is an independent director on the board of three Tata Sons companies — Tata Steel, Tata Motors and Tata Chemicals. Wadia faces a shareholders' vote on December 23 after Tata Sons moved a resolution to remove him as an independent director.

Tata Sons have called EGMs to remove ousted chairman Cyrus Mistry and Wadia from the boards of Indian Hotels, Tata Chemicals, Tata Motors and Tata Steel. Tatas have also accused Wadia of trying to take control of some of these companies

Wadia has dismissed the allegations against him as "totally false and baseless".

"...that I am acting against the interests of Tata Chemicals is totally false and baseless. I have served as an Independent director of Tata Chemicals for the past 35 years as also Chairman of the Nomination and Remuneration Committee where at the Annual General Meeting I am answerable to shareholders," he said earlier on Thursday.

On the allegations that he is “galvanising independent directors and mobilising opinion, forcing disruptions and issuing statement which is contrary to the interests of the Company”, Wadia said these "are totally baseless and completely unsubstantiated”.

(With PTI inputs)

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| Edited by: Nitya Thirumalai
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