Tata's remarks on Ambani's house spark controversy

However, Tatas disputed the reported attribution to its chairman, saying that the comments were taken “out of context and factually incorrect.”

“The stories are based on an interaction of Tata with London’s Times newspaper. The news item is misleading and mischievous. At the onset we would like convey our disappointment at the attempt to sensationalise and replay conversations out of context,” it said.

The Times on Saturday quoted Tata as saying that  “it makes me wonder why someone would do that,” in reference to Ambani's residence Antilla in south Mumbai.

The report further cited him as saying: “The person who lives in there should be concerned about what he sees around him and can he make a difference. If he is not, then it is sad because India needs people to allocate some of their enormous wealth to finding ways to mitigate the hardship that people have. We are doing so little about the disparity. We are allowing it to be there and wishing it away,” the newspaper report added.

The Tata spokesperson said that Ratan Tata's comments on wealth were in the larger context of the growing disparity in society and the  “comments seem to have been deliberately sensationalised.”

“There have been words, individuals and statements that have not been mentioned by Tata during the course of the interaction which are being attributed to him. We have already registered our protest with the publication and will continue to pursue measures against the incorrect impressions being sought to be created,” the statement added.

Reliance Industries Limited, however, declined to comment on the issue. The company also denied Ratan Tata had describing British employees  “lazy” in the reference to Tata-owned companies like Corus and Jaguar Landrover there.