Nusli Wadia, a former independent director on the boards of Tata Motors, Tata Steel and Tata Chemicals, has withdrawn a criminal defamation case he had filed against Tata Sons and its board members and executives including Ratan Tata.
Wadia, in 2016, had filed a defamation case against Tata Sons, the holding company of the Tata Group, and 11 of its board members and executives.
Wadia had said that Tata Sons and the individuals cited, including Ratan Tata, had defamed him “by printing, publishing and circulating per se false, frivolous, baseless, incorrect, libellous and defamatory material concerning the Complainant”.
Ratan Tata and Tata Sons directors submitted that there was never any intent to defame Wadia.
Wadia had moved the Supreme Court against the Bombay High Court order quashing the criminal defamation proceedings against Ratan Tata and others.
The top court, last Monday, had asked Ratan Tata and Wadia to settle between themselves the defamation case. “You both are leaders in the industry … why don’t you talk and resolve the issue? In this day and age do parties such as yourselves need to pursue litigation like this," the court had said.
Wadia, who runs a business empire comprising companies from aviation to FMCG, filed the case after he was removed from the boards of Tata Motors, Tata Steel and Tata Chemicals. He had publicly backed Cyrus Mistry, who was ousted as chairman of Tata Sons, triggering a nasty public battle.
Wadia had sought damages of Rs 3,000 crore.