The past two days must have been unsettling times for Indian promoters. First, a UK judge censured
Anil Ambani for his apparent ignorance of personal guarantees extended by his companies to Chinese financial institutions. Then today, the
National Company Law Appelate Tribunal ruled – after three years – restored
Cyrus Mistry to chairmanship of Tata Sons, the group holding company, and declared the appointment of the current incumbent, N Chandrasekaran, in 2017 as illegal. The Tata group will appeal in the Supreme Court, of course, but the judgement has certainly thrown up issues about corporate governance which, as our first edit points out, urgently need to be addressed. Read the edit
here. Elsewhere, opinion writers examine aspects of Budget and agriculture.
Kanika Datta sums up the views