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Cyrus Mistry seeks review of SC verdict in case against Tata Sons
The Shapoorji Pallonji Group has filed a review petition before the Supreme Court seeking review of its March 26 verdict in the dispute between Tata Sons Limited and Cyrus Mistry. The apex court had on March 26 set aside the National Company Law Appellate Tribunal (NCLAT) order of December 18, 2019 restoring Cyrus Mistry as executive chairman of Tata Group.
The last month s verdict ended nearly fiye-year old case put an end to the corporate war between Tata Group and the Mistrys.
The top court in its order had said that all the questions of law are liable to be answered in favour of the appellants Tata Group and the appeals filed by the Tata Group are liable to be allowed and those by Shapoorji Pallonji Group are liable to be dismissed.
Tata Vs Mistry: Shapoorji Pallonji Group challenges SC verdict, files review petition
Tata Vs Mistry: Shapoorji Pallonji Group challenges SC verdict, files review petition
The Shapoorji Pallonji Group has filed a review petition against the Supreme Court order upholding the ouster of Cyrus Mistry as executive chairman of Tata Sons.
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UPDATED: April 26, 2021 11:37 IST
The Supreme Court had set aside the NCLAT order that asked Tata Sons to resintate Cyrus Mistry as the executive chairman of the company. (Photo: Getty Images)
The Shapoorji Pallonji (SP) Group has filed a review petition in Supreme Court challenging the March 26 verdict in connection with the dispute between Tata Sons and Cyrus Mistry. The top court has ruled in favour of Tata Sons, upholding the ouster of Cyrus Mistry as the executive chairman of the company.
Shapoorji Pallonji Group in no hurry to sell its stake in Tata Sons
Synopsis
The SP Group is now in no hurry to sell its 18.4% stake in the Tata group holding company, having gained a breather of two years following the KV Kamath Committee s approval for one-time restructuring exercise to strengthen its balance sheet and reduce debt by monetising assets. Tata Sons too is unlikely to make any proposal to buy the stake and will focus on internal group requirements for future growth plans.
It is status quo, for now, on plans by the Shapoorji Pallonji (SP) Group to sell its stake in Tata Sons. Both the seller and the putative buyer appear to have put any such plans on the backburner.
Mistry’s cousin relieved as SC says Tata did him no favours
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Mistry’s cousin relieved as SC says Tata did him no favours
Mumbai: Meherji Pallonji Group director Mehli Mistry, who was caught in a crossfire between friend Ratan Tata and cousin Cyrus Mistry, expressed pleasure over the Supreme Court (SC) finding no merit in the allegations levelled against him by the scion of Shapoorji Pallonji (SP) Group.
SP, a minority shareholder of Tata Sons, had claimed that Mehli received “huge benefits” due to his personal relationship with company chairman emeritus Ratan Tata. “I’m happy that my name has been cleared by the Supreme Court. This was important, especially for my wife and daughter, and after the attacks on my integrity,” Mehli said.
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