On July 2, 2024 and December 16, 2024, we inadvertently published two false and incorrect articles (the Articles) headlined, as under:
a) On July 2, 2024 - "Whistleblower blows lid off fraud on court by businessman" (Article 1); and
b) On December 16, 2024 - "Wadia illegally sold 8.69% of Tata Sons stake" (Article 2)
Since publication of the Articles, Mr. Nusli Wadia, through his Solicitors, has pointed out to us, and demonstrated through documents, that both Articles are factually incorrect, baseless and false, and were published without duly verifying the facts and/or seeking prior inputs or comment from him. We regret our failure to seek such inputs and comment, and the publication of false assertions in both Articles. Had we approached Mr. Wadia before publication, he would have set the record straight by providing the true and correct facts, which, regrettably, we did not do. Had we done so neither Article 1 nor Article 2 would have been published.
We have, therefore, agreed to publish this unconditional apology along with the following Statement of Factual Corrections with respect to the Articles.
Article 1 and Article 2 refer to an alleged public interest litigation by one Pankaj Phadnis (Mr. Phadnis) and contained brazenly false, unsubstantiated and incorrect statements.
The correct fact is that the alleged public interest litigation (PlL) filed by Mr. Phadnis (dismissed by High Court on -December 12, 2024) does not contain any of the allegations as asserted in both the Articles. Both the Articles were, therefore, clearly erroneous.
Mr. Wadia never held or controlled (directly or indirectly through any trust or company or otherwise) 8.69% of Tata Sons' share capital and cou ld not, therefore, have made any sale, misappropriation or transfer thereof to the Shapooiji Pallonji Group. Mr. Wadia does not and at no time had any interest, control or stake in FE Dinshaw Limited (the company belongs to Shapoorji Pallonji Group and not Wadia Group). He, therefore, could not, and did not, misappropriate that stake (8.69% of Tata Sons) or transfer it to the Shapoorji Pallonji Group.
Mr. Phadnis' litigation was initiated by him since he claims he was to be funded by the Public Charitable - Tata Trusts / Tata Sons to carry on a campaign targeting Mr. Wadia and to file proceedings against Mr. Wadia in various courts including in the United States (at a time when disputes existed between the Tata Group and Mr. Wadia), and since Mr. Phadnis claims that the Public Charitable - Tata Trusts / Tata Sons, having committed to fund Mr. Phadnis and the litigations he embarked upon, thereafter refused to meet those commitments.
Late E. F. Dinshaw did not set up any trust by the name, " Dinshaw Trust", whether by will or otherwise. Although Late E. F. Dinshaw's Last Will & Testament did contain a bequest to two American Charities, there was a prior, life bequest in respect of al l his property in India to his sister, Bachoobai, who was also absolute residuary legatee under said Will. The bequest to the American Charities did not comply with the then prevailing provisions of the Indian Succession Act, 1925. As a result, the property in that estate was the sole and absolute, private propety of Late Bachoobai Woronzow.
It is the contention of Mr. Wadia that he did not forge any documents, whatsoever. It is his contention that Ferani Hotels Private Limited and Sandeep Raheja, (Rahejas) have committed a fraud on the E. F. Dinshaw Estate (by setting up several benami companies) and against whom Mr. Wadia (as the Administrator of the Estate) has filed civil and criminal proceedings.
Rahejas have filed a complaint falsely alleging a forgery, as a counterblast to Mr. Wadia's proceedings. Mr. Wadia states that Rahejas complaint deals with matters that have already been ruled upon, in Mr. Wadia's favour by the Courts in two countries and Mr. Wadia has already sent a preliminary response to the complaint (running into over 500 pages) and has also filed his response with the Bombay High Court in Mr. Phadnis' PIL. All the disputes between Mr. Wadia and Rahejas are sub Judice.