NCLT upholds Tata Sons' 2016 move sacking Cyrus Mistry as Chairman
Mumbai: The National Company Law Tribunal (NCLT) on Monday upheld the October 24, 2016 decision of the Tata Sons Board of Directors dismissing its then Chairman Cyrus Mistry, a company official said here.
The NCLT ruled that the Tata Sons Board of Directors was competent to remove the Executive Chairman and that Mistry was ejected as the board members had lost confidence in him.
The much-awaited verdict of the NCLT came on a petition filed by Mistry after he was abruptly ousted as the Tata Sons Chairman that day, creating an upheaval in the Indian corporate world.
Mistry later quit from the board of other six Tata Group companies but challenged the Group and his successor, former Interim Chairman Ratan Tata's decisions, before the NCLT.
- PM Narendra Modi delighted about India's participation at Cannes Film Festival 2022; Calls it a 'milestone'
- GUDS eWHEELERS in Lucknow is set to Revolutionize Personal Mobility with India's first eWheelers Smart Mobility Hub
- '265 Ukrainian soldiers surrendered at Azovstal'
- Gyanvapi mosque case: Varanasi court removes commissioner
- Gyanvapi live: Seal area where 'Shivling' found but prayers shouldn't be hindered, says SC
- Bada Mangal 2022: Story of Bade Mangal in Lucknow, what is its relation to Hanuman; All you need to know
- Baghpat News: Rakesh Tikait breaks silence; blames BJP for rift in BKU
- As deadline ends, Gyanvapi survey official to seek more time from UP court
- Covid-19 fourth wave: India reports 1,569 fresh cases, 19 deaths in past 24 hours
- Gyanvapi Mosque Row: Asaduddin Owaisi opposes survey, says 'lost Babri Masjid, don't want to lose another'