Ratan Tata Welcomes SC Verdict Upholding Cyrus Mistry's Ouster From Tata Sons

Ratan Tata Welcomes SC Verdict Upholding Cyrus Mistry’s Ouster From Tata Sons

New Delhi: In a big win for Tata Sons, the Supreme Court on Friday upheld the ouster of Cyrus Mistry as executive chairman of the company in connection with the dispute between Tata Sons Pvt Limited and Cyrus Investments Pvt Ltd.

A three-judge bench, headed by Chief Justice of India (CJI) SA Bodbe, gave its verdict on the basis of cross-appeals filed by the two entities on the 2019 National Company Law Appellate Tribunal (NCLAT) order reinstating Mistry as executive chairman of Tata Sons, India Today reported.

The SC bench had reserved its judgement in the case on December 17 last year after hearing arguments presented by a number of senior advocates including Harish Salve, Shyam Divan and CA Sundaram.

Welcoming the judgement, Tata Group’s Chairman Emeritus Ratan Tata said in a statement, “I appreciate and am grateful for the judgement passed by the honourable Supreme Court today.” He said the issue is not about winning or losing but is a validation of the values and ethics that have always been the guiding principles of the group, the report added.

“It is not an issue of winning or losing. After relentless attacks on my integrity and the ethical conduct of my group, the judgement upholding all the appeals of Tata Sons is a validation of the values and ethics that have always been the guiding principles of the group,” he added. “It reinforces the fairness and justice displayed by our judiciary,” he was quoted as saying.