Three years after he was suddenly sacked as chairman of Tata Sons—the holding company of India’s largest conglomerate—the National Company Law Appellate Tribunal (NCLAT) on Wednesday, restored Cyrus Mistry to the position he held for nearly four years.
While reinstating Mistry, a two-judge tribunal held that the appointment of N Chandrasekaran as chairman was consequently illegal. The direction of Mistry’s reinstatement will become operational after four weeks, giving Tata Sons time to move the Supreme Court
Three years after he was suddenly sacked as chairman of Tata Sons—the holding company of India’s largest conglomerate—the National Company Law Appellate Tribunal (NCLAT) on Wednesday, restored Cyrus Mistry to the position he held for nearly four years.
While reinstating Mistry, a two-judge tribunal held that the appointment of N Chandrasekaran as chairman was consequently illegal. The direction of Mistry’s reinstatement will become operational after four weeks, giving Tata Sons time to move the Supreme Court
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