SC sets aside NCLAT order restoring Cyrus Mistry as Tata Group’s executive chairman
Mistry had succeeded Ratan Tata as chairman of Tata Sons in 2012 but was ousted four years later
Ratan Tata. Image courtesy CNBC-TV18
New Delhi: The Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as executive chairman of the Tata Group.
A bench of Chief Justice SA Bobde and Justices AS Bopanna and V Ramasubramanian said it is allowing the appeals filed by Tata Group. "The order of National Company Law Appellate Tribunal (NCLAT) dated 18 December, 2019 is set aside," the bench said.
The Bench further states, "All the questions of law are liable to be answered in favour of the appellants Tata Group and the appeals filed by the Tata Group are liable to be allowed and SP Group is liable to be dismissed."
— Ratan N. Tata (@RNTata2000) March 26, 2021
The apex court had on 10 January last year granted relief to Tata group by staying the NCLAT order by which Mistry was restored as the executive chairman of the conglomerate. Mistry had succeeded Ratan Tata as chairman of Tata Sons in 2012 but was ousted four years later.
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