Lawstreet Journal

In a Big Win for Tata Sons, NCLAT Order Re-establishing Cyrus Mistry as Chairperson Set Aside by the Supreme Court

Lawstreet Journal 30 Mar 2021 8:47pm

Image courtesy: Lawstreet Journal Business In a Big Win for Tata Sons, NCLAT Order  Re-establishing Cyrus Mistry as Chairperson Set Aside by the Supreme Court

On Friday (March 26, 2021), the Supreme Court set aside the order of National Company Law Appellate Tribunal (NCLAT) that had re-established the role of Cyrus Mistry as the Chairperson of Tata Sons Limited. 

A lot of legal questions were answered by the Court pertaining to this dispute in the favour of Tata Sons while bringing an end to this legal battle that lasted half a decade since 2016, ultimately leading to removal of Cyrus Mistry as the Chairman of Tata Sons. 

The matter was heard by the Bench comprising Chief Justice of India SA Bobde along with Justices V Ramasubramanian and AS Bopanna. While the Bench allowed the appeal by Tata Sons, it dismissed the appeals of Mistry and Shapoorji Pallonji Group (SP Group). 

The Court said,We find all the questions of law are liable to be answered in favour of the appellants, Tata Group and the appeals file by the Tata Group are liable to be allowed and Shapoorji Pallonji group is liable to be dismissed.” It further added the Order of the NCLAT dated December 18, 2019 is now set aside. 

The judgement said, “Company petition no 82/2016 filed by two companies belonging to SP Group shall stand dismissed. Civil Appeal 1802 filed by Cyrus Investments Limited and Sterling Investment Corporation is dismissed. There will be no order as to costs."

One of the pleas of SP Group was to ask for alternate relief from the Court, thereby directing Tata Sons to separate the ownership interest of SP Group in Tata… Continue Reading...

Tagged: Tata-Mistry  
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