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'Mistry falsely implicated in real estate case'

Source : IANS
Last Updated: Wed, Apr 25, 2012 17:40 hrs

Mumbai, April 25 (IANS) Tata Group chairman-designate Cyrus Mistry is being falsely implicated in a case related to a real estate firm in which the Bombay High Court issued notice to his father Pallonji Shapoorji Mistry, a statement issued Wednesday said.

"Cyrus Mistry is in no way concerned in the said petition... and his name has been dragged into it with ulterior motives," Shapoorji Pallonji and Co Ltd and S.D. Corporation said in a joint statement.

"Our attention has been drawn to reports in the media seeking to implicate Cyrus Mistry in litigation filed by Ketan Tirodkar in the Bombay High Court against the state of Maharashtra concerning the redevelopment of Samata Nagar by S.D. Corporation at Kandivli, Mumbai," it said.

"Cyrus Mistry has never been a director of S.D. Corporation Pvt Ltd., which is a joint venture between Shapoorji Pallonji Group and the Thacker group. As such he has never been concerned or involved with the affairs of S.D. Corporation Pvt Ltd," the statement added.

The two companies said they will file an appropriate reply in the Bombay High Court to clarify the issue.

"This statement is being issued jointly by us in order to prevent further misinformation and mischief," it said.

"In addition S.P.C.L. and S.D. Corporation wish to state that all business transactions that they have entered into are fully compliant with the law and supporting documentation has already been submitted to the authorities confirming the same," the statement added.




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