Supreme Court backs removal of Cyrus Mistry by Tata Sons
The Supreme Court, on Friday, backed the removal of Cyrus Mistry as the chairman of the 100 billion USD Tata Group.
A bench headed by Chief Justice S.A Bobde said the decision to remove Cyrus Mistry was right.
“All questions of law are in favour of Tata Group,” said the judges.
The apex court set aside the National Company Law Appellate Tribunal (NCLAT) order, which had reinstated Mistry as the chairman of the company.
The NCLAT had, on December 18, 2019, restored Mistry as the executive chairman of the conglomerate, which made the Tata Sons challenge the order in the Supreme Court.
Tata Group had vehemently opposed the allegations and said the board was well within its rights to remove Mistry as the chairman.
Mistry had succeeded Ratan Tata as chairman of Tata Sons in 2012 but was sacked four years later.
(Edited by Shankar Kumar Turha)