The Supreme Court will hear the review petition filed by Cyrus Mistry’s the Shapoorji Pallonji (SP) Group in the dispute case against the Tata Group on Tuesday, 15 February, as reported by NDTV.
Cyrus Mistry had approached the apex court in April 2021, seeking a review of its 26 March judgment endorsing the Tata Son's decision to remove him as the chairperson.
A bench of Chief Justice of India NV Ramana, Justice AS Bopanna and Justice V Ramasubramaniam will consider the dispute case in chamber on Tuesday.
In a judgment last year, the SC had backed Mistry’s removal, setting aside the December 2019 ruling of the National Company Law Appellate Tribunal (NCLAT) that had directed the reinstatement of Cyrus Mistry as Tata Sons chairperson.
SC Favours Tata Group
The SC had said, "That failed business decisions and the removal of a person from directorship can never be projected as acts oppressive or prejudicial to the interests of the minorities, is too well-settled. In fact it may be conceded today by Tata Sons that one important decision that the Board took on 16.03.2012 certainly turned out to be a wrong decision of a life time (sic).”
The Tata-Mistry Dispute
Mistry, a scion of the wealthy Shapoorji Pallonji family, was removed as the chairperson of Tata Sons in October 2016. He was the sixth chairperson of Tata Sons and had taken over in 2012 after Ratan Tata. He was later also removed as director of the board of Tata Sons.
Mistry and Tata family patriarch Ratan Tata reportedly fell out over key investment decisions, including manufacturing of the world’s cheapest car, Nano.
(With inputs from NDTV.)
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