The Supreme Court on Friday upheld Tata Sons’ decision to sack Cyrus Mistry as chairman of the salt-to-software conglomerate. The court pronounced its judgment on the cross appeals filed by Tata Sons and Cyrus Investments against the National Company Law Appellate Tribunal (NCLAT) order which had restored Mistry as the executive chairman of the over … Read more
In an unprecedented move, the Mumbai bench of the income tax appellate tribunal (ITAT) has retracted the critical remarks it made on Cyrus Mistry in its recent order that restored the tax-exempt status of the three key Tata Trusts. In a major moral victory for the past chairman of Tata Group who was unceremoniously sacked … Read more
Mistry made the allegations in his affidavit submitted to the Supreme Court, where he is fighting a protracted legal battle with India’s largest conglomerate over his ouster in October 2016 from the group’s holding company. The Tata group and Mistry’s investment firms—Cyrus Investments Pvt. Ltd and Sterling Investments Pvt. Ltd—have been involved in the litigation … Read more
How do you unscramble an egg called Tata Sons? The second law of thermodynamics says orderly things gradually turn more chaotic, and there’s no going back, no separating yokes from whites. But the appeals judge of India’s corporate law arbiter thinks he can reverse time. Or so it would appear from his order declaring that … Read more