Wadia Group Chairman Nusli Wadia has withdrawn all defamation cases against Ratan Tata. The decision by the Indian-born British Parsi businessman comes after Tata told the Supreme Court that he did not intend to defame Wadia. The defamation case, filed in December 2016 sought 3,000 crore. Wadia backed Cyrus Mistry after we was ousted from Tata Sons in October 2016. In the defamation suit,
Wadia also mentioned board members Ajay Piramal, Ranendra Sen, Vijay Singh, Venu Srinivasan, Ralf Speth and FN Subedar along with Tata Sons chairman N Chandrasekaran who succeeded Mistry. As per Wadia, those named in the suit did a conspiracy to defame him. The Supreme Court had last week asked the Bombay Dyeing chairman and Ratan Tata to sit together and resolve their differences in the defamation case.
Wadia had filed a criminal defamation case against Ratan Tata and other directors of Tata and Sons in 2016 after he was voted out of the Board of some Tata Group companies. He claimed that Tata and others made defamatory statement against him after they removed Cyrus Mistry on October 24, 2016 as the chairman of Tata Sons.