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Cyrus Mistry Says, Tata Director Vijay Singh Involved in VVIP Chopper Scam

cyrus mistry on VVip scam

Deported Tata Group Chairman Cyrus Mistry has suspected that Tata Group Director Vijay Singh has involved in the VVIP chopper scam. Overthrown Tata Chairman Cyrus Mistry is not going well with the Tatas from past couple of months and created a stir in his battle with Tata board.

Mr. Cyrus Mistry who is locked in a boardroom tussle with the Tatas claimed that Vijay Singh hand in AgustaWestland Chopper Scam and his involvement in the scam when he was the Defence Secretary in 2010. Mistry said, “Mr. Vijay Singh has played a vital role in awarding of the Rs 3,600 crore VVIP helicopter contract to AgustaWestland in 2010.”

However, Mr. Singh responded over this and said that his involvement was not in the chopper scam and the deal of Rs 3600 crores was approved by the Union Cabinet well after he had retired from Government service.

“I was Defence Secretary from 2007-2009 and the current cases being sued by CBI pertain to 2004-2005. The cabinet approved the AgustaWestland procurement well after my retirement,” Vijay Singh said in a statement.Linking me with this scam is defamatory and hateful, said, Mr. Singh.

Possible Reasons for Cyrus Mistry Shocking Removal From Tata Sons

We all know that Cyrus Mistry rejected as a director of Tata Industries after the company found issues with him. Now, Mistry claimed that Vijay Singh, who is a 1970 batch retired IAS officer from Madhya Pradesh cadre, had no track record either as MP Chief Secretary or as Defence Secretary. Vijay is currently the non-executive director of Tata Sons.

On January 1, 2014, Government of India has signed a deal with Finmeccanica’s British Subordinate AgustaWestland for supplying 12 AW-101 VVIP choppers to the IAF over the unproven crack of vowed requirements. Meanwhile, ex-air force Chief SP Tyagi has taken into CBI custody for his hand in the scam, facing allegations of receiving kickbacks.

Cyrus Mistry also blamed that being a part of the Nominations and Remuneration Committee (NRC) of Tata Sons, Vijay Singh on June 28, 2016, gave a healthy-looking review of his performance as the Chairman of the Tata group.

Ratan Tata, Dr Vijay Kelkar and Nandan Nilekani have joined hands to start Microfinance Institution

On the flipside, Singh said reasons for the removal of Mistry and stated that the reason for Ratan Tata losing his confidence on Mistry. He said that the team’s failed in bids such as Tata Power and Tata Motors for the multi-thousand crore future combat infantry Vehicle contract from the Army.

Responding on this, Mistry today stated that both Vijay and Tata were very much in the loop on various discussions on the project.

Cyrus Mistry Takes his Words Back on Selling TCS to IBM

Cyrus Mistry Takes his Words Back on Selling TCS to IBM

Cyrus Mistry gave the explanation to his words. On Tuesday he stated Ratan Tata Ego puts the company in the risk, Tata wants to sell the company to the IBM, due to his egoistic mind he purchased Corus Company for highest rate. He also said due to his nature many employees are suffering.

Now Mistry takes his words back and giving the explanation that “I didn’t say about selling TCS to IBM, I said about Ratan Tata nominations, at that time some disturbances have arisen about nominations but I didn’t say anything rather than that.

These words became the sensation and finally reached to Tata. TCS first chief executive F.C. Kohli and former Tata Steel chairman Muthuraman has strongly responded on this issue.

Possible Reasons for Cyrus Mistry Shocking Removal From Tata Sons

Father of IT industry Kohli stated, “It is entirely fake news about selling TCS to IBM, Up to now we never thought about giving TCS”.  He also said there is no truth is words on Mistri. They established Tata IBM in 1991-92, its main aim is to encourage hardware in India but we never thought about

Muthuraman said “These are foolish statements reported by Mistry, we bought Corus Company after thinking about all issues, and I am really shocked about words of Cyrus Mistry.” He said he is really sad about statement of Mistri.

Possible Reasons for Cyrus Mistry Shocking Removal From Tata Sons

Ratan Tata as interim after cyrus mistry

Apart from the fanfare brought globally by Cyrus Mistry for the Tata Sons Groups,the decision of disbanding of Mistry from the Chairman position took everyone by surprise.

Everyone is thinking What might be the reasons for Ratan Tata entry as the interim head?

A committee has been set for the decision for removing Cyrus Mistry from his chair since two months. It all ended up when the majority of the Board members in the meeting had voted for disposal of Cyrus Mistry.

The official announcement came out on Monday afternoon. Mistry was selected as the successor of Tata’s Group in November 2011. In the initial stage, he acted as the Deputy Chairman and later he was made as the Chairman for his affiliation with Shapoorji Pallonji.

Ratan Tata, Dr Vijay Kelkar and Nandan Nilekani have joined hands to start Microfinance Institution

It is believed that the core reason for the ouster of Cyrus Mistry was his inefficient approach and declining performance of shedding non-profit businesses. And Mistry was blamed for concentrating only on the Cash cows.

The other reasons were the style of functioning when compared with Ratan Tata. As under Ratan Tata’s Chairmanship the company has driven its expansionist strategy which included overseas purchases like Tetley in 2000 and with the Jaguar Land Rover luxury car in 2008. On the other hand under Mistry 4-year Chairmanship focused more on tackling the mounting debt by raising cash-flows.

The other additional reasons for the firing of Mistry were his functioning style and denying of Ratan Tata’s bits of advice on some crucial matters. The ignoring of pieces of advice had resulted in the loss and created legal problems with Japan’s DoCoMo.

Tata trust signs MOU with Gilead on viral hepatitis in India

A group spokesperson said, “The Tata Sons board in its collective wisdom and on the recommendation of principal shareholder decided that it may be appropriate to consider a change for the long term interest of Tata Sons and the Tata group.”

As of now, it is believed that there will be a legal battle between Tata Sons and Cyrus Mistry. Tata Sons had already hired senior lawyers Abhishek Manu Singhvi and Harish Salve for future consequences.