Ratan Tata - Cyrus Mistry confrontation

Ratan Tata would scarcely have expected Cyrus Mistry to be of such stern stuff which the latter has exhibited in the ongoing confrontation. Mistry has dug his heels in and may go the long haul to disprove the 'Tata Magic'.

Longer the fight festers, more will be the loss to Tata's credibility. Some independent directors have started shamelessly exhibiting their loyalty to and dependency on Tatas. O.P.Bhatt and Mallika Srinivasan belong to this 'dependent independent' category. Tatas have started maligning independent directors like Nusli Wadia and Vibha Paul Rishi who are insistent on calling a spade a spade. Wadia had earlier fought against Dhirubhai Ambani (Bombay Dyeing vs Reliance) and of course lost heavily. He may lose yet again. Between Dhirubhai and Ratan, the former was more transparent about his deviousness. Wadia may be feeling the heat of nemesis visiting him. He had earlier supported Ratan Tata to unscrupulously oust Russi Mody and other stalwarts from Tata companies. What goes around comes around.

Independent directors in IHCL and Tata Chemicals were able to put their foot down on the egoistic machinations of Tatas. Independent directors in Tata Steel , some of them, lack nerves of steel. The director representing workmen sided with Ratan Tata and expectedly so.

Media observations which were initially against the unfair treatment meted out to Mistry have started softening. Ratan Tata, according to some reports, has activated his association with Niira Radia. With friends like Siva and Radia, Ratan Tata's judgment cannot but be clouded.