Ratan Tata appreciates and is grateful for the Supreme Court judgment in favour of Tata Sons, which set aside the NCLAT order reinstating Cyrus Mistry as chairman of the conglomerate.
The Chairman Emeritus of Tata Sons tweeted "it is not an issue of winning or losing. After relentless attacks on my integrity and the ethical conduct of the group, judgement upholding all the appeals of Tata Sons is a validation of values and ethics that have always been the guiding principles of the group."
The SC on March 26 ruled in favour of Tata Sons, allowing the conglomerates' appeals against the National Company Law Appellate Tribunal (NCLAT) order reinstating Cyrus Mistry as chairman. The apex court set aside the December 17, 2019 NCLAT order which allowed reinstatement of Mistry as chairman of Tata Sons and as a director on the board.
The SC also dismissed appeals filed by Mistry-family controlled Shapoorji Pallonji Group, which owns an 18.37 percent stake in the salt-to-steel conglomerate.