News Desk, AnyTV, New Delhi
Published by: Amit Mandal
Updated Mon, 21 Feb 2022 09:20 PM IST
Summary
Cyrus Mistry was the sixth chairman of Tata Sons and was removed from the position in October 2016.
Ratan Tata, Cyrus Mistry
– Photo : Social Media
hear the news
Expansion
The Supreme Court will hear on March 9 the review petition of the Shapoorji Pallonji Group against the removal of Cyrus Mistry in the Tata-Mistry case. Cyrus Mistry was the sixth chairman of Tata Sons and was removed from the position in October 2016. After Ratan Tata, he took over as the chairman in 2012. Mistry was the second person from outside the Tata family to become the chairman in the group’s 150-year history.
Mistry was removed from the post of chairman in October 2016.
The Mistry family firms on Friday filed a reply to the Tatas’ affidavits. Mistry was suddenly removed from the post of Tata Sons chairman on 24 October 2016 without assigning any reason. However, later in some press statements, the group claimed that Mistry was not performing as expected and that Tata Sons suffered losses under his supervision. On the other hand, according to Mistry, the loss figures did not include dividends from group’s huge profit making company TCS, which averaged over 85 per cent annually.