Tatas move SC against Mistry return

The Tatas on Thursday moved the Supreme Court challenging the December 18 order of the National Company Law Appellate Tribunal (NCLAT) which had re-instated Cyrus Mistry as the executive chairman of the group.

In a petition filed with the apex court through Karanjawala & Co, Tata Sons Private Ltd (TSPL) pleaded that the NCLAT judgment be set aside and claimed that the reliefs granted to Mistry were “completely inconsistent with the annals of corporate law”.

Apart from restoring Mistry as the executive chairman of TSPL, the NCLAT had also ruled that the appointment of N. Chandrasekaran as the head of the holding company was illegal. It had also quashed the conversion of Tata Sons into a private company from its earlier status as a deemed public limited company.