Now, TCS moves SC against NCLAT order reinstating Mistry as director

Cyrus Mistry (Photo: Bloomberg/ Dhiraj Singh)

Tata Consultancy Services (TCS), the flagship company of the Tata group, on Saturday said it has filed an appeal in the Supreme Court against the NCLAT that directed the reinstatement of Cyrus Mistry as a director of the company.

In a filing to the stock exchanges, TCS said the National Company Law Appellate Tribunal (NCLAT) - vide its judgement on December 18, 2019 - had directed re-instatement of Mistry as director of the company for rest of the tenure.

"...the company, based on a legal opinion, has on January 3, 2020 filed an appeal in the Hon'ble Supreme Court of India (i) to set aside the said Judgement qua the company and (ii) in the interim stay on operation of the said judgement to the extent it relates to the company," it added.

In a major development, the NCLAT had restored Mistry as executive chairman of Tata Sons and ruled that appointment of N Chandrasekaran as the head of the holding company of salt-to-software conglomerate was illegal.

Subsequently, Tata Sons moved the Supreme Court against the December 18 order of the NCLAT reinstating Mistry as the company's chairman.

After that, Tata Group patriarch Ratan Tata also filed a petition in the Supreme Court seeking to quash the company law appellate court order, saying the judgment was "wrong, erroneous and contrary to the record of the case".

His petition, however, is separate from the one filed by Tata Sons Ltd, the holding company of the USD 110 billion salt-to-software conglomerate, in the Supreme Court on Thursday.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel