Tata Sons Chairman Emeritus Ratan Tata's actions against Cyrus Mistry were oppressive and the appointment of a new chairman was illegal, the National Company Law Appellate Tribunal said on Wednesday. It noted the manner in which Mistry was ousted was hasty. The NCLAT also directed Ratan Tata to maintain arms-length distance as far as Tata Sons board is concerned.
Tata Sons Chairman Emeritus Ratan Tata's actions against Cyrus Mistry were oppressive and the appointment of a new chairman was illegal, the National Company Law Appellate Tribunal said on Wednesday. It noted the manner in which Mistry was ousted was hasty. The NCLAT also directed Ratan Tata to maintain arms-length distance as far as Tata Sons board is concerned.
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