By Our Correspondent
NEW DELHI/BHUBANESWAR: “I appreciate and I am grateful for the judgement passed by the honourable Supreme Court Today.It is not an issue of winning or losing . After relentless attacks on my integrity and the ethical conduct of the group, the judgement upholding all the appeals of Tata Sons is a validation of the values and ethics that have always been the guiding principle of the group. It reinforces the fairness and justice displayed by our Judiciary,” Ratan N. Tata tweeted @RNTata2000.This was reaction of Ratan Tata soon after Supreme Court rejected all allegations against the Group raised by Cyrus Mistry.
In a huge victory for Tata Group, the Supreme Court on Friday accepted all contentions of the Tata conglomerate and set aside the order of the NCLAT, which restored Cyrus Mistry as the executive chairman of the Tata conglomerate.A bench headed by Chief Justice S.A. Bobde said all questions of law are in favour of Tata Group and dismissed the appeals filed by Mistry. The top court upheld the Tata Sons decision to sack Cyrus Mistry on October 24, 2016.
Shapoorji Pallonji Group counsel had argued that Mistry was removed because he was going to place a draft governance structure at the Board meeting on October 24, 2016.In December 2019, the NCLAT had ruled that the proceedings of the Board meeting of Tata Sons held on October 24, 2016 removing Cyrus Mistry as chairperson was illegal.
