New Delhi, June 5 (IANS): Tata Sons Chairman N. Chandrasekaran on Friday set the record straight on rumours in the media which, he said, are "malicious in their intent to undermine the performance of the Tata group and discredit Chairman Emeritus Ratan Tata".

"This is to dispel the recent unfounded rumours regarding the Tata Group in some sections of the print/social media. The Tata group companies, like all other companies, are facing both challenges and opportunities arising out of the pandemic and resulting economic situation, based on the industries and markets they operate in," he said in a statement.

"All our group companies are progressing well responding to these challenges and opportunities and we are confident that they will emerge stronger. Tata Sons is in strong financial position with adequate cash flows to support the group companies and new growth initiatives," he added.

He denied that the group is looking to divest assets. "Tata Sons is not looking to monetise its investments to raise capital. There are recent mis-informed and completely unfounded rumours regarding the Tata Group, in some sections of the print/social media," Chandrasekaran said.

He said the rumours have a malicious intent to discredit Ratan Tata.

"These are malicious in their intent to undermine the performance of the Tata group and discredit the Chairman Emeritus, Ratan N. Tata. The Group is well poised to capture new opportunities and we are focused on navigating the current situation and profitable growth."