Burden of proof on Mistry as battle lines form for Tata legal showdown
Breaking News - As India's biggest corporate showdown heads from the boardroom to the courtroom and brings in a Who's Who of the country's legal profession, ousted Tata Sons chairman Cyrus Mistry vows a multi-layered battle for governance reforms at the $100 billion conglomerate, people close to him say. Mistry, who was dismissed from his post in October and has since left boards at other Tata group companies, will step up his legal fight with patriarch Ratan Tata and others and make his case in any regulatory investigations into the Tata group, three people familiar with Mistry's strategy said. Cyrus Mistry has so far broadly laid out three sets of allegations: breaches of governance within the Tata group; misconduct at Tata ventures; and the illegality of his ouster. "If all of those are put together, it paints a picture - of mis-governance and misappropriation," said one of those people. "I think there will be different elements, which will all be looked at in different forums. Tata Sons, the holding company with stakes in listed firms operating in a range of industries, denies Mistry's allegations and says it has followed the highest standards of corporate governance.