April 4, 2020
Cyrus Mistry to be Chairman of Tata Sons again

Cyrus Mistry to be Chairman of Tata Sons again

On Wednesday, the National Company Law Affiliate Tribunal ruled in favor of Cyrus Mistry that Tata Sons should bere-chaired by Mistry. The decision to remove it was not reasonable. The National Company Law Affiliate Tribunal today ruled on an appeal against the dismissal of Cyrus Mistry from the Chair of Tata Sons. Upon losing the case at the National Company Law Tribunal, Cyrus Mistry went to the Appeals Tribunal. The ruling was reserved by the Appellate Tribunal in July. NCLAT has denied the selection of N Chandrasekaran as President of Tata Sons. In February 2017, Chandrasekaran became chairman. Tata Sons has 4 weeks to appeal the decision of the NCLAT. It has been approved by the NCLAT.

Cyrus Mistry was removed from the position of President of Tata Sons in October 2016. Two months later, Mistry rejected the two investment companies of his family-Cyrus Investment Private Limited and Sterling Investment Corp-in the Mumbai Bench of the National Company Law Tribunal. Such companies claimed that the decision to remove Mistry did not comply with the rules of the Companies Act, although the NCLT dismissed the claim in July 2018. However, Mistry appealed against the decision of the NCLT.

The NCLT stated in its ruling of 9 July 2018 that the Tata Sons Board was able to remove Cyrus Mistry from the presidency. Mistry was dismissed because he was not trusted by the board and major investors.

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