In a major relief for TATA group, Supreme Court today set aside the National Company Law Appellate Tribunal (NCLAT) order of December 18, 2019 that restored Cyrus Mistry as executive chairman of Tata Group. Allowing the plea filed by Tata Sons against the NCLAT judgment, a top court Bench comprising Chief Justice of India SA Bobde, Justice AS Bopanna and Justice V Ramasubramanian on Friday dismissed the appeals filed by Shapoorji Pallonji group and Cyrus Investments in this regard. Also Read - LIVE India vs England Live Cricket Score 3rd ODI, Today\'s Match Updates From Pune: Shardul Picks Four-For to Rattle England in 330 Chase; India 2 Wickets Away From Series Win
TATA Group vs Cyrus Mistry in Supreme Court – Top Facts
“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,” Supreme Court said in its order as per a report by Bar&Bench. Also Read - Ahead of Holi, Police Official Gifts Gangajal to Complainants, Asks to Sprinkle on Themselves to Stay Protected from Diseases
“The order of National Company Law Appellate Tribunal (NCLAT) dated December 18, 2019 is set aside,” the Bench said. Also Read - Rhea Chakraborty Poses With Saand Ki Aankh producer Nidhi Parmar, Says \'Love Is Power\'
Cyrus Mistry was appointed as the Chairman of Tata Sons, in December 2012. However, Mistry was removed from the post on October 24, 2016 following a decision by the majority of the board of directors of the company. N Chandrasekaran was appointed as Executive Chairman of Tata Sons. Things got ugly and the matter reached the threashold of the court. In December, 2019, the NCLAT had pronounced that the proceedings took place on October 24, 2016 during the Board meeting of Tata Sons that lead to removal of Mistry as illegal. Both Tata Sons and Mistry had challenged the order.
The apex court had on January 10 last year granted relief to Tata group by staying the NCLAT order by which Mistry was restored as the executive chairman of the conglomerate.
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