Life seems to come full circle for Cyrus Mistry. He was restored as executive chairman of Tata sons on Wednesday with the NCLAT terming the appointment of N Chandrasekaran as the head of the holding company of salt-to-software conglomerate as "illegal."
As National Company Law Appellate Tribunal (NCLAT) on Wednesday ordered reinstatement of Cyrus Mistry as Executive Chairman of Tata Sons, Twitter users voiced their views on the issue.
In a big win for Cyrus Mistry, the National Company Law Appellate Tribunal on Wednesday ordered restoration of him as the Executive Chairman of Tata Sons. NCLAT also held appointment of N Chandra as Executive Chairman illegal.
The development comes exactly two years after Mistry, 52 was ousted as the Chairman of Tata Sons on October 24, 2016 in one of the most closely followed corporate wars in recent times.
Business magnate Cyrus P. Mistry on Wednesday announced the launch of a new global enterprise, Mistry Ventures LLP, to provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and worldwide.
In its last hearing, the tribunal had reserved its judgment on the conversion of Tata Sons and had said the question of interim relief would come up once the plea filed by Cyrus Investments was admitted.
Mistry was removed as the Tata Sons board and majority of its members lost confidence in him, the NCLT Mumbai's main bench of B S V Prakash Kumar and V Nallasenapathy said in a judgement.
Venkatramanan, managing trustee of Tata Trusts, had filed the criminal defamation complaint against Mistry and others for making “false” statements and sought a compensation of Rs 500 crore.
“I am being sacked” was the text message former Tata Sons chairman Cyrus P Mistry sent to his wife Rohiqa minutes after he was asked to either resign or face termination
Aa Tata Sons spokesperson said that the reinstatement of Tata Sons as a private company was considered by the board to be in the best interest of the company.
A Mumbai court here has initiated process against Cyrus Mistry and others in a Rs 500 crore criminal defamation complaint lodged last month by Tata Trusts' Managing Trustee R. Venkataramanan.
Tata Sons on Monday welcomed the order of an apex corporate tribunal which ruled against a petition by Cyrus Mistry's firms that had alleged mismanagement by the company.
Tata Sons on Monday welcomed the National Company Law Tribunal (NCTL) dismissing the petitions by the Cyrus Mistry camp and said that it vindicates the position of the group.
The NCLT today held that the two petitions filed by Cyrus Mistry's family companies against his ouster from Tata Sons were not maintainable as they did not fulfil the eligibility criteria for approaching the tribunal.
Tata Sons on Monday removed ousted Chairman Cyrus Mistry as director of the company with shareholders voting in favour of his removal with requisite majority.
Ousted Tata Sons chairman Cyrus Mistry has replied to the National Company Law Tribunal (NCLT) on the ‘counter-allegations’ made by the holding company of the industrial conglomerate.
National Company Law Tribunal on Wednesday dismissed a contempt plea filed against Tata Sons by its ousted chairman Cyrus Mistry, alleging violation of NCLT directives in taking steps to remove him from the board of Tata Sons.
Former Tata Sons chairman Cyrus Mistry has termed the appointment of Natarajan Chandrasekaran as his successor ‘illegal’ and may even consider legal option.
Tata Sons had set a four month deadline to choose new Chairman after Cyrus Mistry’s ouster on October 24 last year.
Outset Tata Sons chairman Cyrus Mistry's investment firms have filed a contempt of court petition with the National Company Law Tribunal (NCLT) against the salt-to-software conglomerate for calling an Extra-ordinary General Meeting (EGM) to remove fo
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