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Ratan Tata knew all important TFL decisions: Pendse

Dilip Pendse, former managing director, Tata Finance Ltd, on Wednesday categorically said that Tata Group chairman Ratan Tata, was in the know of almost all important transactions and decisions of TFL and its subsidiaries.

"I used to apprise and consult Ratan Tata on all important matters pertaining to Tata Finance and its subsidiaries and also other Tata companies with which I was associated on behalf of Tata Industries," Pendse said in a statement in Mumbai.

"Ratan Tata used to talk to me very regularly and we used to discuss various matters including the matters of Tata Finance," Pendse said.

His statement was in response to Ratan Tata's public denial after the annual general meeting of the VSNL about his knowledge of investment decisions made by Tata Finance.

Pendse was quite clear that "Apart from telephonic discussions, I used to regularly meet Ratan Tata almost on every Wednesday as per established practice, whenever he was not travelling, at 3.00 p.m. for a general briefing and consultation session, which normally lasted about 30-45 minutes."

This practice, Pendse said, was followed after his taking over as managing director of TFL till 1999.

UNI

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