M factor, not one but three

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  • Published 28.08.08

Mumbai, Aug. 28: Beware of the three Ms, Ratan Tata was advised today by a Tata Steel shareholder.

“Beware of the three Ms: Mamata, Medha and Mayavati,” the shareholder told Tata at the steelmaker’s annual general meeting here.

Tata Steel shareholders lent vocal support to the Nano project with one of them suggesting that the plant be relocated to Navsari in Gujarat.

Several state governments, including Maharashtra, Uttarakhand, Punjab and Orissa, have offered to host the Nano project. Narendra Modi hasn’t said a word yet but Vinit Parekh, the Gujarati shareholder, made his pitch for his hometown anyway.

Even Tata couldn’t hide a smile. “If we need to move, we will move to a place where there is infrastructure. Navsari doesn’t have that infrastructure,” Tata replied, giving no indication whether his patience had finally worn thin over the Singur siege.

Ten young Greenpeace activists, who Tata said held one share each, spoke out against a port project in Orissa for fear it would destroy the habitat of the Olive Ridley turtle.

Tata said the company would respond if they provided firm evidence.