Reacting to the apex court order setting aside the NCLAT order, reinstating Mr Mistry as the group’s acting chairman, Mr Tata said in a tweet, “it is not a matter of winning or losing”.
Ratan Tata, chairman emeritus of the Tata group, on Friday lifted a Supreme Court order that “validated the values and ethics that have always been the guiding principles of the group” in the group’s legal battle against the group’s chairman Cyrus Mistry.
Reacting to the order of the top court, setting aside the NCLAT order, reinstating Mistry as the group’s acting chairman, Mr Tata said in a tweet, “it is not an issue of winning or losing”.
Applauding the decision passed by the Supreme Court, he said, “After the relentless attacks on my honesty and the group’s ethical conduct, Tata Sons’ decision to uphold all appeals is a validation of the values and ethics it has always been.” The guiding principle of the group. “He further added,” It strengthens the fairness and justice demonstrated by our judiciary. ” A bench of Chief Justice SA Bobde and Justices AS Bopanna and V Ramasubramaniam said that it was allowing the appeal filed against the Tata group.
The court said, “All the questions of law are liable to be answered in favor of the appellants Tata Group and the appeals filed by the Tata Group may be allowed and which can be dismissed by the Shapoorji Pallonji Group.” The apex court had on January 10 last year granted relief to the Tata group by staying the order of the NCLAT, by which Mr. Mistry was reinstated as the executive chairman of the group.
Mr Mistry succeeded Mr Tata as chairman of Tata Sons in 2012, but was ousted four years later, which was followed by a bitter fight.
A few days after Auster, Mr. Tata explained to shareholders of the group firms that Mr. Mistry was replaced as chairman of Tata Sons on October 24, 2016, after four years in that role, “because Tata Sons’ board gave him Had lost faith in him and his ability to lead the Tata group in the future ”.
He had also said that the board felt that the removal of Mr Mistry was “absolutely necessary” for the group’s future success.
On the other hand, Mr Mistry, who termed his dismissal an “illegal coup”, alleged that his group was targeted to curtail “attempts to reform” the Tata group.
Mr Mistry had raised issues related to corporate governance and transparency, which allegedly revealed fake transactions worth Rs 22 crore involving a joint venture with Air Asia to non-existent entities in India and Singapore.
He also repeatedly questioned the role of Tata Trusts in operating Tata Sons, the promoter company of the group’s major operating companies.
“I have treated Ratan Tata with the respect and respect that he can command. In fact, a retired president may always feel that his “legacy” is in danger. But even a retired president can move forward without feeling insecure about his legacy and have the emotional stature to know that the right decision was made once in a while at some point in time. Can not happen, ”Mr. Mistry said.
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