Tata vs Mistry: SC rules in favour of Tata Group, sets aside NCLAT order

The Supreme Court on Friday upheld the decision of the Tata Sons board in October 2016 to remove its then chairman, Cyrus Mistry, from office and later the company’s board.

In its 282-page judgment, the court set aside the National Company Law Appellate Tribunal’s (NCLAT’s) order of December 2019, which had re-instated Mistry on the Tata Sons board and had termed the appointment of the current chairman, N Chandrasekaran, “illegal”.

The Supreme Court Bench, led by Chief Justice S A Bobde, rejected Mistry’s Group’s plea against the conversion of Tata Sons from a public limited company into a private limited one and did not get into the issue of valuing the company’s stake.