India

Tata Sons Approach Apex Court Against Cyrus Mistry’s Reinstatement

By
OB Bureau

New Delhi: Tata Sons moved the Supreme Court on Thursday, challenging the reinstatement of Cyrus Mistry as the executive chairman of the group by the National Company Law Appellate Tribunal (NCLAT).

NCLAT had reinstated Mistry as the executive chairman of Tata Sons, one of the country’s oldest and largest conglomerates, on December 18. The restoration came three years after his dramatic sacking at a board meeting following which Ratan Tata took over as interim chairman.

In its petition, Tata Sons sought a stay on the company law tribunal’s order as well as it declaring the selection and appointment of N Chandrashekaran as chairperson as illegal.

A two-judge panel of the NCLAT said last month that Tata Sons chairman emeritus Ratan Tata’s actions against Mistry were oppressive. The tribunal also said Tata Sons’ move to turn private was unlawful and ordered a reversal. Tata Sons’ board had approved a plan to go private in September 2017.

Mistry had launched legal proceedings against Tata Sons after his removal from the company, NDTV reported.

OB Bureau

Recent Posts

New Artist To Play King Kansa Role During Dhanu Yatra In Odisha’s Bargarh

Bargarh: A new artist will be selected to play the mythological character King Kansa during…

November 22, 2024

Shah Rukh’s Daughter Suhana Khan Brutally Trolled For Vivo Ad [Watch]

Mumbai: Suhana Khan will be making her Bollywood debut with ‘King’ along with her superstar…

November 22, 2024

Badshah Comes Out In Support Of Diljit Dosanjh In Alcohol Controversy

New Delhi: After Diljit Dosanjh called out the double standards of Telangana government for banning…

November 22, 2024

World War 3 Has Begun, Says Ukraine’s Former Military Chief

New Delhi: Recent actions and counter-actions in the Russia-Ukraine conflict have pushed the world to the…

November 22, 2024

3 Arrested With Fake IPS Officers’ Uniforms, Identity Cards In Odisha’s Balangir

Balangir: Three persons were arrested and fake IPS officers’ uniforms along with fake identity cards…

November 22, 2024

‘I Want To Talk’: Twitterati Lauds Abhishek Bachchan, Say He Is Better Than Amitabh

Mumbai: Abhishek Bachchan’s highly-anticipated film ‘I Want To Talk’ released in theatres on Friday, and the…

November 22, 2024

Cash-For-Vote Row: BJP Leader’s Defamation Notice Against Rahul Gandhi, Kharge

New Delhi: Accused of giving cash to secure votes ahead of election day in Maharashtra,…

November 22, 2024

CM Mohan Majhi Attends ‘Odisha State Day’ Celebrations At IITF In Delhi

Bhubaneswar: Chief Minister Mohan Charan Majhi attended the ‘Odisha State Day Celebrations’ at the 43rd…

November 22, 2024