We were kept in the dark: Ratan Tata

MUMBAI: The chairman of the Tata group Ratan Tata said he was unaware of what transpired at Tata Finance till the company sank into heavy losses under its erstwhile MD Dilip Pendse.
‘‘We were kept in the dark on the transactions,’’ Tata said at the sidelines of the VSNL board meeting. “It is absolutely untrue that I knew about the transactions.I am not involved in TFL and its issues. The first time I got to know about TFL transactions was in April 2001, when Dilip Pendse himself called me up in Dubai.
‘‘If I knew about the matter, why would Pendse call me up to inform me,’’ Tata said. ‘‘The matter will now be settled in court.’’ The Tata group has taken Pendse to court for alleged illegal transactions in Tata Finance while the former was the MD. Tata Finance had suffered losses close to Rs 700 crore due to various transactions in stock market.