Mumbai (Maharashtra) [India], June 5 (ANI): Tata Sons Chairman N Chandrasekaran on Friday, stating that the corporate group is not looking to monetise its investments to raise capital.
"This is to dispel the recent unfounded rumours regarding the Tata Group in some sections of print/social media. The Tata Group companies, like all other companies, are facing both challenges and opportunities arising out of the (COVID-19) pandemic and resulting economic situation, based on the industries and markets they operate in. All our group companies are progressing well responding to these challenges and opportunities and we are confident that they will emerge stronger," the statement read.
"Tata Sons is in a strong financial position with adequate cash flows to support the group companies and new growth initiatives. Tata Sons is not looking to monetise its investments to raise capital," added the statement.
It further read: "There are recent misinformed and completely unfounded rumours regarding the Tata Group, in some sections of the print/social media. These are malicious in their intent to undermine the performance of the Tata group and discredit the Chairman Emeritus Ratan N Tata."
"The Group is well poised to capture new opportunities and we are focused on navigating the current situation and profitable growth," said the statement further. (ANI)