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Ratan Tata planned to sell TCS to IBM
By: Tupaki Desk | 23 Nov 2016 7:56 AM GMT
Ousted chairman Cyrus Mistry alleges Ratan Tata has planned to sell IT Company TCS to IBM in the past. In the 5-page letter titled as 'One Man's Ego versus an Institution'. He also blames Tata for bad decisions like acquisition of British steelmaker Corus for double the original cost due to 'ego' issues.
Cyrus Mistry condemned the allegations that he hasn't contributed anything to the Tata Groups cash-cows TCS and JLR. He says some people are trying to create an illusion that he was just a 'hands off' chairman and TCS/JLR were on auto pilot when he was the Chairman. He claims to have contributed a lot to TCS and JLR, through which 90% of the Tata Groups profits come from.
The former chairman alleges Ratan Tata brought the proposal to sell TCS when then chief FC Kohli was sick. JRD, however, refused the deal citing the hospitalization of FC Kohli. Mistry describes it as a dear-near experience for TCS at the hands of Ratan Tata.
Cyrus Mistry condemned the allegations that he hasn't contributed anything to the Tata Groups cash-cows TCS and JLR. He says some people are trying to create an illusion that he was just a 'hands off' chairman and TCS/JLR were on auto pilot when he was the Chairman. He claims to have contributed a lot to TCS and JLR, through which 90% of the Tata Groups profits come from.
The former chairman alleges Ratan Tata brought the proposal to sell TCS when then chief FC Kohli was sick. JRD, however, refused the deal citing the hospitalization of FC Kohli. Mistry describes it as a dear-near experience for TCS at the hands of Ratan Tata.
