NEW DELHI: Salt-to-software conglomerate Tata Sons on Thursday welcomed the Supreme Court’s decision to dismiss the petition filed by Shapoorji Pallonji group seeking review of the apex court’s 2021 verdict that upheld Tata Son’s decision to remove Cyrus Mistry as Chairman.
“We welcome today’s order of the Hon’ble Supreme Court with humility. It reaffirms, once again, Tata Group’s position which was upheld by a unanimous judgment last year,” Tata Sons said in a statement.
“Tata Sons reiterates its commitment to work towards nation building, and maintaining standards of governance and ethical conduct that have guided Tata Group in all its businesses over the years,” it added.
In one of the most bitter boardroom battles involving top corporate giants, Tata Sons had in 2016 ousted Cyrus Mistry from the position of Executive Chairman after four years of him being at the helm.
He was later removed as a Director on the Tata Sons board. Following this an intense legal battle ensued with Mistry moving to company law tribunal.
The company law tribunal in 2019 reinstated Mistry as the executive chairman of Tata Sons. Tata Sons then challenged the tribunal’s decision in the Supreme Court. In March last year, the apex court junked the tribunal’s order. Mistry filed review petition against the order but his plea has now been dismissed.
Ratan Tata, Chairman Emeritus, Tata Sons, expressed his gratitude to the Supreme Court in a tweet.
“We would like to express our grateful appreciation of the judgement passed and upheld by the Supreme Court today. It reinforces the value system and the ethics of our judiciary,” he said.