City
Epaper

Tata Sons moves Supreme Court over Cyrus Mistry's reinstatement

By ANI | Updated: January 2, 2020 13:16 IST

The Tata Sons Limited on Thursday approached the Supreme Court against the order of the National Company Law Appellate Tribunal (NCLAT) which reinstated Cyrus Mistry as executive chairman of the company.

Open in App

The Tata Sons Limited on Thursday approached the Supreme Court against the order of the National Company Law Appellate Tribunal (NCLAT) which reinstated Cyrus Mistry as executive chairman of the company.

The company has sought early interim relief ahead of the board meeting which is likely to be held on January 9.

The matter has not yet been fixed for hearing and will only come up after the apex court opens on January 6 after the winter break.

On December 18, the NCLAT had restored Cyrus Mistry as the Executive Chairman of the Tata Group and held that the appointment of N Chandrasekaran was illegal.

The tribunal, however, clarified the restoration order will be operational only after four weeks, thus allotting time to Tatas to file an appeal.

The Mumbai bench of the National Company Law Tribunal (NCLT) had dismissed the petitions filed by the two investment firms - Cyrus Investments Private Ltd and Sterling Investments Corporation - challenging Mistry's removal.

Later, Mistry had also personally approached the NCLAT over the NCLT order.

Mistry, who was the sixth chairman of Tata Sons, was ousted from the position in October 2016. He had taken over as the chairman in December 2012 after Ratan Tata announced his retirement.

The Mistry camp had challenged the July 9 order of the Mumbai bench of the NCLT which dismissed the pleas against his removal as Tata Sons chairman, as also the allegations of rampant misconduct on part of Ratan Tata and the company's board.

Mistry in his pleas primarily argued that his removal was not in accordance with the Compes Act and that there was rampant mismanagement of affairs across Tata Sons.

( With inputs from ANI )

Tags: MistryTata SonsCyrus MistryRatan Tata
Open in App

Related Stories

EntertainmentOTT Releases This Week (June 23 – June 29): Squid Game Season 3, Panchayat 4, Raid 2 and More – New Web Series & Movies for Weekend Watchlist

NationalAir India Plane Crash: Tata Group to Provide Rs 1 Crore Compensation to Families of Victims

BusinessTCS Salary Hike: Tata Consultancy Services Announces New Increment Policy After Rs. 53,185.89 Crore Loss

HealthTata Group Expands Its Healthcare Division by Investing Rs. 500 Crore in Breach Candy Hospital

NationalWho is Mohini Mohan Dutta? All You Need to Know About the Rs 500 Crore Beneficiary in Ratan Tata’s Will

National Realted Stories

NationalCentre cuts prices of 35 essential medicines

NationalJ&K marks six years of Article 370 abrogation with developmental gains, democratic revival

NationalHuge arms recoveries help in restoring peace in Manipur

NationalDelhi Police rescue kidnapped minor girl within 72 hours, accused arrested

NationalPM Modi condoles loss of lives in Gonda accident, announces Rs 2 lakh ex gratia