Dilip Pendse, former Tata Finance managing director, has added a new dimension to the Tata Finance fiasco by stating that Ratan Tata, chairman, Tata Industries and N A Soonawala, former financial advisor to the Tata group and a director of Tata Industries, were aware of all investments decisions by the company.
In his affidavit filed on August 16 at the Bombay High Court in response to the civil suit filed by Tata Finance, Pendse said all investment decisions taken by the company were collective decisions endorsed by the entire board.
The Tatas claimed damages to the tune of Rs 424.50 crore describing Pendse
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