The question is not is he, but to what extent.
Please read the Mistry's email to the board.
Yes it is official. Cyrus is Yogendra and Corporate governance is his swaraj. Yogendra wasn't promised free hand at the time of joining like Cyrus had. But the difference ends there. In all events and results that turned out you will see a drastic similarity between these two figures and their nose dive.
Arvind Kejriwal gave party candidacy to some shady goons in Delhi election. He also ran a campaign "Paach saal Kejriwal" which was against his party's ethos. The two points which Mistry highlights in his mail are 1. Bad business decision. 2. Shady transactions which are difficult to explain under current legal framework. The second point comes as a shocker as Tata has good standing in the eye of general public. At least in terms of legality of their business transactions.
Both Yogendra and Cyrus not only stood against it firmly but sought to do something about it. To save their organization by pulling out before it is too late.
They didn't knew that it was too late for them. Ratan Tata and Arvind Kejriwal started taking control of the organisation in order to prevent Cyrus/Yogendra from undoing their work. That lead to skirmishes between to parties. Which finally lead to immediate suspension from the office for both of them.
We do not know what took place behind the doors. We have only seen the bitter end result of suspension.
The leaked letter of Cyrus is just in line of many leaks, if not press conferences, that would be followed in coming week from both sides.
In next post I will discuss the e-mail of Cyrus Mistry in detail and we will try to discover the role of Swaraj/corporate governance in India.
No comments:
Post a Comment