Full text of Cyrus Mistry's letter on the issue of transparency at Tata Trusts

The ousted Tata Sons chairman on Monday requested govt to ensure transparency at the trusts to make them more accountable. Read full text here

In a letter sent to the six Tata group companies and their shareholders that are meeting this month to remove him as a director, ousted Tata Sons chairman Cyrus Mistry on Monday said at the heart of the sustainability of the Tata group was governance reform, which was lacking throughout the institution at present. “This would mean the Government ensuring the working of the Tata Trusts, which are public charitable trusts, the property of the people of India, have a defined, transparent governance structure,” he said asking the companies to place his letter before the shareholders.

Here is the full text of the letter:

REPRESENTATION UNDER SECTION 169 OF THE COMPANIES ACT, 2013.

IN RESPECT OF SPECIAL NOTICE FOR REMOVAL OF MR. CYRUS P. MISTRY AS DIRECTOR

Foreword

My Appointment.................

Strategy..................

Structure................

Erosion of Governance...................

Governance Breakdown....................

Flagrant Widespread Breakdown................

Way Forward...................

I therefore urge all you to think beyond the here and now. I urge you to have your voice heard loud and clear. I ask you to be a part of defining the future.

Cyrus P Mistry
[December 5, 2016]

YOUR SUPPORT MATTERS. Visit www.cyrusforgovernance.com for more details.

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