Tata, Cyrus Mistry well-wishers scramble to end public spat

People close to Ratan Tata and erstwhile Tata Sons Chairman Cyrus Mistry are attempting to reconcile differences between the two to put an end to the ugly public spat over the latter's ouster, sources have told CNBC-TV18. It is learnt "informal and exploratory" talks have commenced between the two camps in an attempt to chalk out a truce. This comes in the wake of similar attempts undertaken earlier by senior members of the company, which fell flat.

On record, VR Mehta of Sir Dorabji Tata Trust told CNBC-TV18 he is not aware of any such efforts at reconciliation, although he went on to say that if a settlement were to materialise, it would be a welcome move.

However, sources say old timers at the Tata Group may not be in favour of any compromise as they blame Mistry for initiating the public spat which has already significantly hurt the group's brand reputation.Watch video for more...