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NCLT dismisses Mistry’s plea against removal as Tata Sons chairman
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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Sunday EditionView All
15 Jul 2018 | PTI | New Delhi
Amid row over alleged use of derogatory language in a web series while referring to former Prime Minister Rajiv Gandhi, Congress chief Rahul Gandhi on Saturday said the BJP and the RSS believe that freedom of expression must be policed, while he regards it as a fundamental democratic right. “My father lived and died in the service of India...
STATE EDITIONSView All
17 Jul 2018 | Staff Reporter | Bhopal
Phir Khule Akaash me Judde Ghataon Ke, Phir Hawaon Ke Dupatte Ho Gaye Jheene, a poetic event centered on creations about monsoon ‘Pranaam Pawas’ concluded in city. The event was organised by the Dushyant Kumar Memorial Manuscript Museum to welcome the monsoon season...