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The Supreme court validates the removal of Cyrus P Mistry as an executive chairman of Tata Sons. Also rejects the accusation of Shapoorji Pllonji’s group against Ratan Tata which also includes the Tata Sons board’s reportedly oppressive practices against minority stakeholders.

How Ratan Tata reacts on Decision?

The dismissal of the case of the SP group was done by the court. As the Group pleads at the last-minute for the evolution of shares for an honorable exit from Tata Sons. Done through payment of fair compensation.

The SC balmed Mistry for bringinging misfortune n himself. As he was attempting to set the house on Fire , the safeguarding of which was entrusted by him as per SC. In any event the removal of a person from Executive Chairman post can’t be said as oppressive.” says SC.

The National Company Law Appellate Tribunal (NCLAT) today restored former Tata group Chairman Cyrus Mistry as executive chairman of Tata Group. It said that the tribunal has also held the appointment of N. Chandra as executive chairman illegal.

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The Tatas have the time file an appeal against the order in four weeks as the tribunal said the restoration order will be operational only after four weeks.

As the news came before the closing bell, shares of Tata Motors fell 5.25% to 174.95 on the BSE.

Bench Claims that ” At this stage and in this court we can’t adjudicate on fair compensation. We will leave it to the parties to take the Article 75 route or any other legally available route.” and after that said that,” The order of NCLAT dated on 18th December 2019 is set aside.”

The court claims that.” All the questions of law are liable to be answered in favor of Tata Groups. The appeal filed by Tata Group is liable to be allowed and Shapoorji Pallonji Group is liable to be dismissed.”

Ratan Tata Reaction to the conclusion is:

Source: IndiaTv, Twitter

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