Mumbai: A day after being ousted as independent director of Tata Steel, Wadia group chairman Nusli Wadia on Friday filed a criminal defamation suit against Ratan Tata, Tata Sons and its directors.
The case was filed with Ballard Estate Magistrate court in South Mumbai, CNBC-TV18 reported. The case has been filed under section 500 of the Indian Penal Code that says a person found guilty of defaming another shall be punished with an imprisonment of two years or a fine or both.
Wadia has been engaged in a war of words with Tata group and Ratan Tata over removal of Cyrus Mistry as Tata Sons chairman, a move Mistry camp has called was “illegal” and "against corporate governance norms".
Wadia on Friday skipped the crucial Extraordinary General Meeting of Tata Chemicals. He on Friday wrote to shareholders of Tata Chemicals urging them to vote with conscience.
He was also removed from Tata Motors board on Thursday with around 72 per cent shareholders backing Tata Sons' resolution that sought his removal.
Wadia is second eminent personality relative to Tata Group that has dragged the $103 billion tea-to-chemicals conglomerate to court.
On Tuesday, Cyrus Mistry also took to the legal route to get his grievances against Tata group heard. Mistry filed a petition with National Company Law Tribunal in Mumbai under section 241 of Companies Act for alleged "oppression and mismanagement" at Tata Sons....