Tata Sons CEO Cyrus Mistry has been removed from his post after the Supreme Court rejected a petition to have the decision reviewed.
Sapoorji Pallonji’s (SP) group had asked the Supreme Court to review the 2021 ruling that upheld Cyrus Mistry’s dismissal from his position as executive chairman of the Tata Sons.
Certain remarks made against Cyrus Mistry in the March 2021 verdict were, however, ordered deleted by a bench led by Chief Justice N V Ramana.
Harish Salve, a senior advocate for the Tata group, said the court may allow the deletion of one or a few sentences, but not for the reasons outlined in the SP group’s application.
To make a long story short, the Supreme Court of India on March 26, 2021 overturned an NCLAT decision that had restored Mistry to his position as executive chairman of a $100 billion conglomerate that produces everything from salt to software The Supreme Court also rejected a request from the Shapoorji Pallonji Group to separate Tata Sons Pvt Ltd’s ownership interests (TSPL).
Four years after succeeding Ratan Tata as chairman of TSPL, Mistry was ousted.