The Tribulations of Tata Finance

On 12 April 2001, a 'Shankar Sharma' wrote a letter containing information that shook the Tata world off its steady feet. The letter brought up allegations against Tata Finance and its director, Dilip Pendse. However, the identity of 'Shankar Sharma' still remains unknown. Tata Finance had a lot of hope placed in it, and seemed to be meeting these great ambitions, and Dilip Pendse was the man behind most of its success. But this was all an illusion—a great deal of filth was shrouded by grandeur and the letter became a means to unveil the gravity of the situation. Suddenly, Tata Finance, the company providing the most dependable financial guidance, was not in a position to manage its own financial goals. Unable to pay its depositors and investors, the company ran the risk of not only losing its priceless credibility, but also good credit. In such a situation, Ratan Tata had to take the reigns back into his hands. Read on as Harish Bhat, brand custodian of the Tata Group, describes in detail how Tata dealt with this grave financial situation, ensuring that they could avoid such calamities in the future.