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NCLT dismisses Mistry’s plea against removal as Tata Sons chairman

| | Mumbai

The National Company Law Tribunal (NCLT) on Monday dismissed pleas of Cyrus Mistry challenging his removal as Tata Sons chairman as also the allegations of rampant misconduct on part of Ratan Tata and the company’s Board.

A special bench of the tribunal held that the Board of Directors at Tata Sons was “competent” to remove the executive chairperson of the company. NCLT bench members BSV Prakash Kumar and V Nallasenapathy said that Mistry was ousted as chairman because the Tata Sons’ Board and its majority shareholders had “lost confidence in him”.

Reading out the judgement’s operative part, the bench said that “he (Mistry) admittedly sent out crucial information related to the

Tata firms to the Income Tax department, leaked information to the Press, and after he came out in public against the company and its board members”.

 
 
 
 
 

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