SC stays NCLAT order restoring Cyrus Mistry as Tata Sons’ chairman

The Supreme Court on Friday stayed in toto the NCLAT order restoring Cyrus Mistry as executive chairman of the Tata Group, observing that there were “lacunae” in the orders passed by the Tribunal. A bench of Chief Justice S A Bobde and Justices B R Gavai and Surya Kant said the National Company Law Appellate Tribunal (NCLAT) decision suffers from “basic errors and we have to hear the matter in detail”.

The bench also said, “You (Cyrus) have been out of the saddle quite a long time. Does this hurt you….How does it hurt you today”. The bench said there was no prayer in the petition for reinstatement of Mistry but the tribunal went ahead with it and ordered his reinstatement.