Tata Sons welcomes NCLT order dismissing Cyrus Mistry's plea

Tata Sons said it welcomed the order of the National Company Law Tribunal (NCLT) dismissing all allegations against Tata Trusts, its trustees and Tata Sons made by the Petitioners representing certain companies of the SP Group.

The order of the NCLT vindicates the position of Tata Trusts and Tata Sons, it said.

The family firms of former chairman Cyrus Mistry — Cyrus Investments and Sterling Investments — had pressed allegations of mismanagement and oppression of minority shareholder interests at Tata Sons. The legal battle followed an ugly public spat between Mistry and Tata Group after he was sacked on Oct 24, 2016 after being at the helm for 4 years.


“The judgement has only re-affirmed and vindicated that Tata Sons and its operating companies have always acted in a fair manner and in the best interest of its stakeholders. The Tata Group has always been committed and will continue to be committed to transparency and good corporate governance of global standards,” said N Chandrasekaran, Chairman at Tata Sons.

He added that Tata Sons hopes that a finality will be given to the judgement of NCLT, Mumbai by all concerned in the larger interest of companies, the shareholders and the public.