TATA News: Supreme relief for Tata Sons, SP Group’s petition dismissed

New Delhi: Tata Sons got a big relief from the Supreme Court on Thursday. The Supreme Court on this day dismissed the Shapoorji Pallonji (SP) Group’s plea seeking a review of the 2021 decision upholding the Tata Group’s decision to remove Cyrus Mistry from the post of executive chairman of Tata Sons. . However, a bench headed by Chief Justice NV Ramana in its March 2021 judgment ordered removal of certain remarks made against Cyrus Mistry.

Harish Salve introduced

Senior advocate Harish Salve, appearing for the Tata group, said the court may allow quashing of one or a few sentences, though it should not be for the reasons stated in the Shapoorji Pallonji (SP) group’s application.

NCLT order quashed

The apex court had on March 26, 2021 quashed the order of the National Company Law Appellate Tribunal (NCLAT) reinstating Mistry as the executive chairman of the $100 billion conglomerate. Along with this, the Supreme Court had also dismissed the petition of Shapoorji Pallonji Group seeking separation of ownership interests in Tata Sons Private Limited (TSPL).

Was made president in 2012

Mistry was made the chairman of TSPL in 2012, replacing Ratan Tata, but was removed after four years.