Mumbai: Tata group chairman Ratan Tata on August 20 said he was not consulted by former Tata Finance Ltd (TFL) managing director Dilip Pendse on investment decisions made by the non-banking finance company.

"It is absolutely untrue that I was consulted by Pendse and I was not involved in TFL and its issues," Tata told reporters after the annual general meeting (AGM) of Videsh Sanchar Nigam Ltd.

"The first time, I was informed was when Pendse called me up in Dubai in April 2001. If I was involved why would be contact me," he said, adding that the matter would be sorted out in the court.

Pendse, in his affidavit filed with Mumbai High Court had said that Tata was aware of all the investment decisions made by TFL.

All investments of TFL were collective decisions endorsed by the entire board, he had added.

Earlier in the AGM, Tata said no depositor or shareholder in TFL was allowed to suffer a loss and the group has put in Rs 500-700 crore in the company as a moral responsibility.

PTI