NCLAT Reinstates Cyrus Mistry in TATA

Table of Contents

CONTEXT

The tribunal, however, added that the order of restoration of Mistry is going to be operational after four weeks.
The period will allow the Tata group to file for an appeal against NCLAT’s latest decision.

Tata Sons Private Limited isthe holding company of the Tata Group
Tata Sons Private Limited was established as a trading enterprise in 1868, engaged primarily in the lucrative opium and tea trade with Mongolia and China.

WHO IS CYRUS MISTRY?

Cyrus Mistry, son of Pallonji Mistry who is the owner of the Shapoorji Pallonji group and one of the biggest stakeholder in the Tata group.
He was appointed to the top position in 2012.

RATAN TATA VS CYRUS MISTRY

Relations were seen as amicable between Mistry and Tata until the vitriol of recent days emerged.
Mistry had effected several changes in the business practices due to which capital expenditure increased but returns to shareholders
He replaced the trusted hands of Ratan Tata.
He also proposed sale of Tata Steel port plant in the UK was seen as harming the goodwill earned by Tata abroad.
The extended dispute with the Docomo group proved to be one of the nails in the coffin.
Tata had to cough up $1.2 billion in the arbitration to the Japanese group.

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