Ratan Tata Reaction after Supreme Court judgment: On Friday, Supreme Court of Tata Group Ltd (Tata sons ltd) and Shapoorji Pallonji group of Cyrus Mistry Today has given its verdict on the matter.
Learn what Ratan Tata said in his tweet
Ratan Tata tweeted and wrote that it was not a matter of victory and defeat. Constant attacks were made on the honesty and morality of my group. This decision proves that Tata Sons has always stood by its principles and values. He further wrote that it shows the fairness and transparency of our judiciary.
— Ratan N. Tata (@RNTata2000) March 26, 2021
Learn what the Supreme Court said today?
Explain that the Supreme Court overturned the NCLAT’s decision to appoint Cyrus Mistry as the company’s re-chairman. A bench of Chief Justice SA Bobde, Justices AS Bopanna and V Ramasubramanian said that it is correct to remove Cyrus Mistry from the post of Chairman of Tata Sons. The apex court said that both Tata and Mistry groups should resolve the matter related to the share. Please tell that Tata Sons had filed a petition against this decision.
Read also – know in 5 points, what is the decision of Supreme Court in Tata-Cyrus Mistry dispute
In 2016, Tata removed Mistry from Tata Sons
Let us know that on October 24, 2016, the Tata Group removed Cyrus Mistry from the post of Chairman of Tata Sons. Ratan Tata was replaced as interim chairman. Tata Sons said that the way the mistry works is not matching with the way the Tata group works. The NCLAT, in its order, called the decision of October 24, 2016 invalid, in which Mistry was removed from the post of director and chairman. The tribunal says that this decision has been taken incorrectly, so now Mistry has been reinstated. The tribunal also said that the appointment of N Chandrasekaran as the new chairman of Tata Sons is illegal. 4 weeks have been given to implement this decision so that the Tata group can appeal. Let us tell you that Cyrus Mistry was the sixth chairman in the history of the Tata Group for more than 150 years. Ratan Tata retired as Chairman of Tata Sons on December 2012, after which Cyrus Mistry was made chairman.