When he was Chancellor of the Exchequer in the 1990s, Kenneth Clarke loved little more than a good punch-up. So it must feel like old times for him at the small and little-known fund management group, Savoy Asset Management, where he is chairman.

Clarke is accusing a large shareholder in Savoy of making groundless, damaging accusations in a bid to oust him as chairman and remove Christopher Saunders as chief executive.

In an interview with The Sunday Telegraph, Clarke dismisses charges made by the disgruntled investor that the company has been mismanaged. ``They keep on making complaints, but ...

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