SC dismisses plea to review removal of Cyrus Mistry as Tata Sons head
The Supreme Court on Thursday dismissed review petitions filed by Cyrus Investments and Sterling Investments against the apex court's final order and judgment of March last year which had allowed Tata Sons to remove Cyrus Mistry as group chairman.
The genesis of the dispute can be traced to the removal of Mistry as executive chairman of Tata Sons in 2016. Thereafter, the investment companies of Mistry, Cyrus Investments Pvt and Sterling Investments Pvt, which own 18.4 per cent stake in Tata Sons filed a petition before the National Company Law Tribunal (NCLT), Mumbai Bench, alleging oppression and mismanagement of Tata Sons by Tata Trusts and Ratan N Tata.
However, the NCLT ruled against Mistry and dismissed the petitions. Later, the National Company Law Appellate Tribunal (NCLAT) overturned the decision of the NCLT and it is against this judgment of the NCLAT that Tata Sons had moved the Supreme Court which had allowed the appeal filed by Tata Sons on March 26, 2021. The review petition, which was filed by the Mistry firms on April 24, 2021, came up today in open court and was dismissed, according to a statement by Karanjawala & Co, a law firm appearing for the Tata group.
In a separate application for expunction of remarks, the Court has agreed to expunge certain remarks made against Cyrus Mistry but has also directed that certain offensive paragraphs directed against the court made in the application for expunction be deleted/withdrawn by Mistry, according to a statement by Karanjawala & Co.
Appearing on the Tata side were Harish Salve and A M Singhvi who were briefed by a team from Karanjawala & Co.
The Mistrys were represented by C A Sundaram and Shyam Divan, and Somasekhar Sundaresan.