The Tata sons accused the ex-chairman of the group, Mr. Cyrus Mistry for using devious and false means by twisting the facts to take over the group.

“We have received emails and calls from many across the globe since the board of Tata Sons decided to change its Chairman. Some have shared concerns following the decision, while many have asked questions about the future of the group and its companies and operations."

“We understand and appreciate that a period of change like this can lead to a sense of uncertainty and would like to put forward some facts so that the decision is seen in the desired perspective.” The Tata Sons group said.

Tata Sons said the group's debt has risen by Rs 69,877 crore to Rs 2,25,740 crore in the last four years and went on to point that the buyer of Tata's European steel assets had dramatically turned around the company in the very first year.

It lashed out at Mistry's handling of the crisis at Tata Steel Europe and the stand—off with Japan's DoCoMo over the failed telecom joint venture where Tatas face $1.17 billion penalty for violation of contract.

What Arun Jaitley says on the Demonetisation of the high currency note?

Rs 500 and Rs 1000 notes still in use in hospitals other sectors !