SC rejects plea of SP group seeking review order on Cyrus Mistry

|HT|

The Supreme Court on Thursday rejected a plea of the Shapoorji Pallonji (SP) group, seeking a review of its last year's order of upholding the Tata Group's decision to remove Cyrus Mistry as the executive chairman of Tata Sons. Soon after, Ratan Tata, chairman emeritus of Tata Sons, expressed his “grateful appreciation” to the apex court for ruling. “We would like to express our grateful appreciation of the judgement passed and upheld by the Supreme Court,” he tweeted. The veteran industrialist added that the order “reinforces” the value system and ethics of the judiciary. A bench headed by Chief Justice of India NV Ramana, while delivering the judgment, ordered the deletion of certain remarks made against Mistry in the March 26, 2021 verdict. This came after senior advocate Harish Salve, appearing for the Tata group, said the top court may allow the deletion of one of a few sentences not for the reasons given in the application of the SP group. In March last year, the Supreme Court had set aside the National Company Law Appellate Tribunal (NCLAT) order restoring Mistry as the executive chairman of Tata Sons. The verdict was given by a bench led by the then Chief Justice of India SA Bobde.

The apex court had also dismissed a plea of SP group seeking the separation of ownership interests in Tata Sons Private Limited (TSPL).

Mistry had succeeded Tata as the chairman of TSPL in 2012 but was removed from the post four years later at a board meeting.

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