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Responding to the Supreme Court’s final verdict over the removal of Cyrus Mistry as the Chairman of Tata Group in 2016 which has now set aside the Company Law Tribunal’s order which had earlier reinstated Cyrus Mistry, Tata Group’s patriarch Ratan Tata has welcomed the judgement. He has hailed the verdict. Stating that it was not an issue of winning or losing, Ratan Tata says it is validation.
“After relentless attacks on my integrity and the ethical conduct of the group, the judgment upholding Tata Sons is a validation or the values and ethics that have always been the guiding principles of the group. It reinforces the fairness and justice displayed by our judiciary,” Ratan Tata posted.
Earlier today, a bench headed by Chief Justice SA Bobde said the decision to remove Cyrus Mistry was right. “All questions of law are in favour of Tata Group,” said the judges.
It can be noted that the National Company Law Appellate Tribunal (NCLAT) had on December 18, 2019, reinstated Cyrus Mistry as the executive chairman of the conglomerate. The order was subsequently challenged by the Tatas.
Ratan Tata was the Chairma of Tata Sons from 1990 to 2012. He was succeeded by Cyrus Mistry, of Shapoorji Pallonji Group, in 2012. Four years later, Cyrus was dramatically sacked from the elite post. This led to a clash between Mistry and Ratan Tata. Since then, it has been in the news and this was the publicly fought corporate battles in the country.
Tags Cyrus Mistry Ratan tata SC Verdict
