Supreme Court rules in favour of Tatas against Mistry, sets aside NCLAT order
The Supreme Court ruled in favour of Tata Sons, allowing the conglomerates' appeals against the NCLAT order reinstating Cyrus Mistry as Chairman.
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The Supreme Court ruled in favour of Tata Sons, allowing the conglomerates' appeals against the NCLAT order reinstating Cyrus Mistry as Chairman.
The court set aside the order of December 17, 2019 order which allowed reinstatement of Cyrus Mistry as Chairman of Tata Sons. On January 10, 2020, the top court stayed the National Company Law Appellate Tribunal's (NCLAT) judgment.
"All the questions of law are liable to be favoured for Tata group. The appeals are allowed by TATA group," Chief Justice SA Bobde said, as quoted by legal news website Bar & Bench.
A bench comprising Chief Justice Bobde and including Justices AS Bopanna and V Ramasubramanian pronounced the judgment. The SC bench had reserved the judgment in the case on December 17, 2020.
The feud between the two parties began in 2016 after Mistry was ousted as Chairman of the conglomerate. N Chandrasekaran was subsequently appointed as Executive Chairman of Tata Sons. In September 2020, Shapoorji Pallonji had said it would separate from Tata Sons. The Mistry family had offered a share swap agreement, which was rejected by the conglomerate.
