New Delhi: Tata Sons on Thursday moved the Supreme Court against the National Company Law Appellate Tribunal (NCLAT) order that directed reinstatement of Cyrus Mistry as Executive Chairman of Tata Sons. Also Read - ‘Victory For Principles of Good Governance,’ Asserts Tata Group's Cyrus Mistry on NCLAT Order
The firm has challenged the complete order of the NCLAT judgement, and sought a stay on it in the wake of TCS board meeting scheduled to be held on January 9. Also Read - Three Years After Sacking, NCLAT Restores Cyrus Mistry as Executive Chairman of Tata Group
Tata’s lawyers will seek an urgent hearing on the matter after apex court reopens on Jan 6. Also Read - Cyrus Mistry announces formation of new venture
In December 2019, the (NCLAT) reinstated Mistry as executive chairman of Tata Group and ruled that the appointment of N. Chandrasekaran as executive chairman of Tata Sons was illegal.
A two-member NCLAT bench had given four weeks to Tata Sons to appeal in the Supreme Court against the order.
In 2012, Mistry was appointed as the sixth chairman of Tata Group, but he was later removed after a boardroom coup broke out on October 24, 2016. Mistry had taken over as the chairman after Ratan Tata announced his retirement.
The special bench of NCLT Mumbai had held that the board of directors at Tata Sons was “competent” to remove the Executive Chairperson of the company. The NCLT bench had also said that Mistry was ousted as Chairman because the Tata Sons’ Board and its majority shareholders had “lost confidence in him”.
Mistry, however, had filed a plea before the tribunal that his removal from the Tata Group has not been in accordance with the provisions of the Company Law and there was gross mismanagement across Tata Sons.
(With IANS inputs)