No plans of stepping down as Tata Trusts chair: Ratan Tata

Ratan Tata has no plans of stepping down as the chairman of Tata Trusts, the company said in a statement. According to an alert from ANI, Tata was responding to the media reports that did the rounds on Thursday night and Friday morning, which said that the Tata veteran was planning to step down as the chairman of the Trusts that control 66% of Tata Sons, amid the Cyrus Mistry controversy. 

However, Tata has now denied all the claims, according to a statement from the company.

Giving up chairmanship of the Trusts would have ended Tata's term as a trustee of the company, a position he has held for decades. However, it would have also quelled talks about him holding the reins of the company even after he stepped down as the chairman two years ago. 

The Mistry - Tata saga has been going on since the former was unceremoniously removed as the chairman of Tata Sons in a board meet. Mistry, is determined not to leave without a fight, has refuted all the claims made by the Tatas about his under-performance and hit back with allegations of misdoings within the group company.