Tuesday, December 6, 2022

TATA Group-Cyrus Mistry Case great relief

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To the great relief of the TATA party, the Supreme Court today set aside the order of the National Company Law Appellate Tribunal (NCLAT) of December 18, 2019 which reinstated Cyrus Mistry as the executive chairman of TATA Group. Approving Tata Sons’ appeal against the NCLAT decision, a high court bench comprising India’s Chief Justice SA Bobde, Judge AS Bopanna and Judge V Ramasubramanian on Friday dismissed appeals filed by Shapoorji Pallonji’s party and Cyrus Investments.
We find that all legal questions have a responsibility to be answered in favor of the applicants, Tata Group and the complaint file made by Tata Group can be approved and the Shapoorji Pallonji party should be dismissed, ”the High Court said in its order. according to a Bar & Bench report.
“The National Company Law Appellate Tribunal (NCLAT) order has been set aside for December 18, 2019,” Bench said.
Cyrus Mistry was elected Chairman of Tata Sons, in December 2012. However, Mistry was removed from the post on October 24, 2016 following a decision by a majority of the company’s board of directors. UN Chandrasekaran was elected Executive Chairman of Tata Sons. Things got worse and the case went to court. In December, 2019, NCLAT announced that this continuation was taking place on October 24, 2016 during a meeting of the Board of Sons of Fathers leading to the removal of Mistry as illegal. Both Tata Sons and Mistry had challenged the order.
On January 10 the high court granted assistance to Tata’s party in compliance with the NCLAT order in which Mistry was reinstated as the organisation’s executive chairman.

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