Nusli Wadia, chairman of the Wadia group of corporations, formally withdrew a defamation suit against Tata group patriarch Ratan Tata, after the latter knowledgeable the Supreme Court that he had no intention to defame Wadia.
After the court docket recorded Tata’s assertion, Wadia withdrew the petition, as steered by the SC final Tuesday, that the 2 settle the problem amicably. There was no face-to-face assembly between the 2 and the settlement happened in court docket, stated a supply.
This ends the three-year dispute between two of India’s oldest enterprise homes. Wadia had moved the SC to problem the choice of the Bombay excessive court docket to quash his defamation grievance against Tata. Wadia had sought damages price Rs 3,000 crore from Tata. The SC stated it appreciated Wadia’s gesture of honouring the SC’s suggestion.
Wadia had filed the case against Tata and others in 2016. This was after he was voted out of three Tata corporations — Tata Chemicals, Tata Motors and Tata Steel.