1. home
  2. > business
  3. > Ratan Tata moves SC against NCLAT order on Mistry's reinstatement
replay trump newslist
up NEXT IN 5 SECONDS sports newslist
tap to unmute
00:00/00:00
NaN/0

Ratan Tata moves SC against NCLAT order on Mistry's reinstatement

Jan 03, 2020 16:51 IST

Ratan N Tata on Friday moved the Supreme Court in his personal capacity, challenging the order of National Company Law Appellate Tribunal or the NCLAT, which held him guilty of having taken oppressive and prejudicial steps against the interest of Tata Sons shareholders. Ratan Tata, who is the chairman emeritus, shareholder and former executive chairman and director of Tata Sons Private Limited, in his petition said, Mistry was removed since 'he failed to timely capitalise on business opportunities and Tata Sons’ financial performance under his tenure, was deeply unsatisfactory'. On 18th December, NCLAT ordered reinstating Cyrus Mistry as the chairman at Tata Sons. Mistry was ousted as chairman at Tata Sons in October 2016 and NCLAT in its December judgment held that the action against Mistry was oppressive and the appointment of a new chairman was illegal.

Business