Indian industrialist Nusli Wadia, chairman of the $2.2 billion (revenues) Wadia Group, was away in New York when his nation's biggest corporate feud of 2016 erupted in October. The board of Tata Sons, holding outfit of the much revered $103 billion (revenues) Tata conglomerate, abruptly showed its chairman Cyrus Mistry the door and installed former chairman Ratan Tata, 79, as interim boss for four months. Wadia was for decades a close ally of Ratan Tata and had board seats at three major Tata companies--Tata Steel, Tata Motors and Tata Chemicals. Wadia says he was offered the chairmanship of Tata Sons by JRD Tata but turned it down, as he felt it was Ratan Tata's rightful inheritance. At November meetings convened by the independent directors of the three companies, Wadia backed Mistry.

Source: Forbes January 16, 2017 21:45 UTC