Ratan Tata moves SC against NCLAT verdict to restore Mistry
Chairman emeritus of Tata Sons Private Limited Ratan N. Tata moved the Supreme Court on Friday against the National Company Law Appellate Tribunal’s (NCLAT) judgment restoring Cyrus Mistry as its chairman, saying the verdict has virtually pulled down the governance and corporate structure painstakingly built by the founders of the Indian multinational conglomerate.
Tata Sons has already moved the apex court against NCLAT decision of December 18.
Mr. Tata said the NCLAT judgment banked on specious arguments to find him “guilty” of acting in an “oppressive and prejudicial” manner against the interests of shareholders. Mr. Tata said he had spent more than half of his life in building the name of Tata Sons and other Tata operating companies to one of the top global companies.
Source: The Hindu