Cyrus Mistry rubbishes rumours about suing Tatas for his abrupt ouster

New Delhi: Amid all the rumours surrounding his ouster as Tata Sons' chairman, Cyrus Mistry on Tuesday issued a press statement rubbishing rumours about suing Tatas, reported an English Daily. "Events of the past 24 hours obviously involve an element of sensitivity if not surprise. They need time for being assessed. As and when a public statement becomes necessary, it would be made", reported The Economic Times. "Neither the SP Group nor Mr Cyrus Mistry has made any statement yet. While the circumstances are being studied, there is no basis to media speculation about litigation at this stage", it added. Meanwhile, the Tata Group, has filed caveat in multiple law forums to avoid any ex-parte order against the group that may arise from Cyrus Mistry's ouster. About Cyrus Mistry Cyrus Mistry is an Irish-Indian businessman and was chairman of Tata Group, between 2012 and 2016. He was the sixth chairman of the group and the second not to be named Tata. Nowroji Saklatwala was the first. Cyrus Mistry is the youngest son of Indian billionaire construction magnate Pallonji Mistry. On 24 October, 2016, the Tata Sons Board voted to remove Mistry as chairman. Former chairman Ratan Tata becomes interim chairman. By February 2017, a new chairman is to be chosen. ALSO READ: Tata Sons rejig: 5 things to know about Cyrus Mistry