NCLAT Restores Cyrus Mistry as Tata Sons Chairperson

The National Company Law Appellate Tribunal (NCLAT) on Wednesday restored Cyrus Mistry as executive chairman of Tata Group, CNBC TV-18 reported. In addition, the tribunal held that the subsequent appointment of N Chandrasekaran as the executive chairman is illegal, the report added.

NLCAT was scheduled to pronounce its judgment over the petition moved by Cyrus Mistry and the two investment firms challenging his removal from the group. Former Tata Group chairman Cyrus Mistry, who was the sixth chairman of Tata Sons, was removed from the position in October 2016. After Ratan Tata announced his retirement, Cyrus Mistry took over as the chairman of the group in 2012.

The July 9 order by the Mumbai bench of NCLT which dismissed the petitions against ouster as Tata Sons chairman was challenged by the Mistry camp. In July 2019, the appellate tribunal had reserved the order after completion of the hearing in the issue.