Tata Sons moves Supreme Court challenging NCLAT order on Cyrus Mistry
The Tata Group on Thursday moved the Supreme Court against a tribunal order restoring Cyrus Mistry as executive chairman of the holding company. Mistry had earlier accused the group of not following the due process and contested for his removal as the chairman of the group in 2016. Cyrus Mistry had also alleged inappropriate interference in the company’s affairs by family patriarch and the conglomerate’s former chairman, Ratan Tata.
The National Company Law Appellate Tribunal (NCLAT) on December 18 sided with Mistry, deeming the appointment of N Chandrasekaran as group chairman illegal and asked Ratan Tata not to interfere with matters.
Tata Sons, the holding company, had four weeks to file an appeal with the Supreme Court.
What is the NCLAT order that Tata Sons is challenging?
The National Company Law Appellate Tribunal (NCLAT) order issued on December 18 directed the conglomerate to reappoint Cyrus Mistry as chairman of Tata Sons and three group companies – TCS, Tata Industries and Tata Teleservices (Maharashtra). According to media reports, the company wanted to avoid a board meeting in the case.
The Tata Sons Beverages is the only company now to hold a board meeting after the NCLAT order.
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