Ratan Tata Moves To SC, Seeks Stay Over Cyrus Mistry's Reinstatement

Publish On: 03 Jan, 2020 06:27 PM | Updated   |   Arnima  

New Delhi: Ratan Tata has sought Supreme Court's help to quash a company law appellate court order directing Tata Sons to rehire Cyrus Mistry as its chairman.

The business tycoon has filed petition in the apex court seeking to quash the order saying the judgement was wrong, erroneous and contrary to the record of the case. The Tata sons had fired Cyrus Mistry in 2016. It is to be mentioned that Tata sons has also filed a petition in the Supreme Court but Ratan Tata has filed a separate one in the highest judicial body of the country. Tata Sons is the holding company of the hundred and ten billion dollars salt-to-software conglomerate and they have sought a stay on the National Company Law Appellate Tribunal's December 18, 2019 order to reinstate Mistry as the chairman of the firm.

Ratan Tata is the chairman of emeritus and shareholder of Tata Sons. He, in his petition, has said that judgement was wrong and it treats Tata sons as a two group company.

"Cyrus Mistry was made the executive chairman of Tata sons in a purely professional capacity," stated Ratan Tata in his petition. He said that Mistry was not a representative of the Shapoorji Pallonji Group which holds 18.4 percent of Tata Sons. Ratan Tata has stated, "Mistry concentrated power and authority in his own hands and alienated board members on matters relating to Tata operating companies."

Both the Tata sons and Ratan Tata has sought review of the order by the Supreme Court.