Cyrus Mistry got a big blow from the Supreme Court on Thursday. In fact, the court has dismissed the petition of the SP Group, which had sought review and reconsideration of the 2021 decision of removing Cyrus Mistry from the post of Tata Sons chief. The judge has dismissed this review petition in the matter of his dispute with the Tata Group.
Earlier, the apex court in its March 26, 2021 judgment had set aside the December 2019 order of the National Company Law Appellate Tribunal (NCLAT), which reinstated Cyrus Mistry as the chairman of Tata Sons Ltd. The court said that it did not find any ground in the review petition. A three-judge bench considered it in-chamber, although Justice V Ramasubramaniam in a minority judgment said the review petition be dismissed. Let us inform here that on 26 March 2021, the Supreme Court, while ruling in favor of the Tata Group, upheld the decision to remove Cyrus Mistry from the post of Tata Sons chief.
The NCLAT, in its December 2019 judgment, had held that the proceedings of the board meeting of Tata Sons held on October 24, 2016, to remove Cyrus Mistry from the post of chairman, was illegal. SP Group and Cyrus Mistry had approached the apex court in April 2021, seeking a review of the March 26 verdict, which backed the decision to remove him as chairman of Tata Sons.
Mistry, who was the sixth chairman of Tata Sons, was removed from the post in October 2016. He took over as chairman in December 2012 after Ratan Tata announced his retirement. N Chandrasekaran later took over as the executive chairman of Tata Sons.