NEW DELHI :
The Supreme Court on Monday allowed Bombay Dyeing chairman Nusli Wadia to withdraw a criminal defamation suit against Tata group executives and board members, including chairman emeritus Ratan Tata. This comes as a further relief for Tata, who is in the midst of a legal battle over the ouster of Cyrus Mistry from the executive chairmanship of Tata Sons.
Wadia withdrew the suit after Tata said he had no intention of defaming the businessman.
“In view of the statement made by Tata that there was no intention to defame Wadia, which is in accordance with the finding of the high court, the petitioner is hereby allowed to withdraw the present petition as well as the pending suit for damages," said the apex court bench headed by chief justice S.A. Bobde.
The court on 6 January had asked the parties to resolve their differences as two “mature people".
“In this day and age do parties such as yourselves need to pursue litigation like this?" the Supreme court had asked them on 6 January 2019
Wadia had in 2016 filed a criminal defamation case against Tata Sons, the holding company of Tata Group, and its executives, seeking ₹3,000 crore in damages. The Bombay Dyeing chairman moved the apex court last year challenging the Bombay high court order of last year quashing proceedings initiated in 2016 by a Mumbai court against Tata Group executives and board members including, Ratan Tata.
Wadia was removed from the boards of Tata Motors, Tata Steel, and Tata Chemicals, after Mistry, the sixth executive chairman of Tata Sons, who he backed for staying on in the post, was ousted in October 2016. Wadia then filed a criminal defamation case against Ratan Tata and other board executives in 2016. Mistry was ousted after he and Tata reportedly had a falling out over key investment decisions, including the manufacture of Nano, which was billed as the world’s cheapest car.
Last week, the Tata Group got some relief as the Supreme Court stayed a National Company Law Appellate Tribunal order issued in December to reinstate Mistry as executive chairman of Tata Sons.