Ratan Tata is no doubt one of the best CEOs of India Inc. I am deeply touched by generous contributions to the victims of Taj Group Employees after 26/11, which no CEO has ever done. However, when it comes to Telecommunications, Ratan Tata / Tata Group for some reason never got the line established with the right number 🙂
In 2005, I wrote to Ratan Tata directly questioning Tata Power’s investment in VSNL Broadband causing Loss of few hundred crores to the former.
Tatas invested Rs500 crores in Broadband venture through Tata Power and now they sold the same investment at a loss of 50% after 5 years to it’s group company
Ratan Check your “coffice@tata.com” dated Sept-23 2005 you will find my e-mail. In my opinion this is completely bad ethics of routing money between group companies and losing it at the cost of other shareholders. Our Ministry of Corporate Governance, SEBI etc slept over it.
Today’s ET carries statements of Ratan,
There has been a smokescreen behind what is really the so-called scam, which really is out-of-turn allocation of spectrum, hoarding of spectrum by important players for free, and things of this nature.
Sure, we all agree that spectrum allocation should be probed. But everybody knows how clean Nira Radia is in the entire episode as she is also associated with Unitech and other 2G License beneficiaries. Radia got close to Kanimozhi who was instrumental in installing A.Raja as the Union Minister of Telecom and subsequently became a gateway for all the major Telecom Deals which is the Largest Scam in the History of India.
Mr. Ratan Tata must come clean or confess his sin of kickbacks as published by leaked Top Secret Documents from the Director General of Income Tax Investigations which says,
Tata through Voltas is in touch with Neera and Ratnam, CA of Ammal Wife of M Karunanidhi. They are apparently going to construct a building in Chennai on a land controlled by “Trill” with Karunanidhi family as Payoff DMK for keeping Maran out of Telecom.
So what say Mr. Tata ? Using another Group Company’s Money Power to Lobby ?
IMHO, just stay out of this, we all know Maran pressurized you for Tata Sky DTH stake saga. However, don’t dance to the tunes of Nira Radia and drag yourself into the uncalled controversy as you see there are finger pointing at your wrongdoings as well.
Update on 29-11-2010:
Tata group company extended loan of Rs 1,600 Cr to Unitech on the Advise of Nira Radia. I had a quick word with one of the Chartered Accountants who said it was probably done to cover the Money Laundering by Unitech. He also said that there are large number of accounting firms in Delhi which gives any entry to cook up and window dress your accounts to escape the tax Authorities.
Hell !!! You may still call this Tata group ethical with sanctity of business listening to worthless people like Nira Radia.
Tata’s are not that clean as they appear to be. I myself am a victim of them. They have usurped my 16 lakhs citing various reasons. They used to get Worker Union leaders killed.
Tata plays with emloyee s career , I joined Tata Infra i.e. WTTIL, from another reputed co, but after few months of my joining Tata , merged with another small organisation and handed over the management to SREI Group.
Today I am a victim , the top management of the merged organization harassed me and inspite of me lodging my grievances to the grievace cell,as it was aginst Tata Code Of Conduct, no action was taken.
My Question to Ratan Tata , who has given you the right to play with our career and life .Do you walk your talk.
One small question… If someone is really clean and honest then why does he/she need to talk to a lobbyist? Why does he/she encourage them? Indian law allows them to manipulate things in their way even though they are caught red handed… nothing but exploiting the loopholes in the system… we should revise our IPC. Will it happen?