Supreme Court allows appeal by Tata Sons against NCLAT order allowing reinstatement of Cyrus Mistry as Chairman
In a big win for Tata Sons Ltd, the Supreme Court allowed its appeal against the order of the National Company Law Tribunal, which had ordered to reinstate the ousted Chairman Cyrus Mistry. The Court allowed the appeal of Tata Sons, answering all questions of law framed in the case in its favour, and set aside the NCLAT order. The appeals filed by Shapoorji Pallonji group and Cyrus Mistry were dismissed. The Top Court held that the actions of Tata Sons board against Mistry did not amount to oppression of minority shareholders or mismanagement. The bench also said that it was open for Tatas and Mistry to work out their separation terms.