Welcoming TATA Sons back on Exchanges?

The sixth chairman of Tata Group, Cyrus Mistry, was deposed from the position on charges of mismanagement in October 2016, after having served for 4 years. In his stead, Natarajan Chandrasekaran was soon appointed as the new Executive Chairman of the salt-to-software conglomerate. Two of Mistry’s entities – Cyrus Investments & Sterling Investments filed an “oppression & mismanagement” case against Tata Sons – the holding company of the Group – in December 2016, which was subsequently dismissed by NCLAT. After removal of Mistry, Tata Sons received clearance from the RoC to go from deemed public limited to private limited in August 2018. On 18th December 2019, NCLAT held the appointment of N Chandrasekaran an illegal event and restored Cyrus Mistry as Chairman. It also ruled the Company’s move to go private as unlawful and ordered a reversal. “The outcome of the appeal is a vindication of my stand taken when the then board of Tata Sons, without warning or reason removed me, first as the executive chairman, and subsequently as a director of Tata Sons”, Mistry said in a statement.

Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on twitter
Twitter
Share on facebook
Facebook
Share on email
Email
March 4, 2021
SYNGENE INTERNATIONAL LIMITED
Click here to download the report Asia’s Biggest and Leading CRO*; Towards Global Standing Syngene International Limited (“the Company”...
March 3, 2021
Monthly Snapshot – February 2021
Click here to download the report The Indian markets cheered the first paperless budget presented by the Finance Minister....
February 11, 2021
ADVANCED ENZYMES TECHNOLOGIES LIMITED
Click here to download the report First Indian Enzyme Company Advanced Enzymes Technologies Ltd (“the Company” or “AETL”) pioneered...
February 11, 2021
S CHAND & COMPANY LIMITED
Click here to download the report A Pioneer of Education Content Provider S Chand & Co. (“the Company” or...
February 10, 2021
INFO EDGE (INDIA) LIMITED
Click here to download the report India’s Profitable Pure Play Online Company Info Edge (India) Limited (“the Company” or...
February 4, 2021
Facebook: Is it Connecting or Disconnecting people?
On Facebook Day we present to you the Potential Legal and Reputational Risk. Do you think it outweighs benefits...
February 3, 2021
TATA COMMUNICATIONS
Click here to download the report Midcap Company in the Telecom Service Sector TATA Communications (“the Company” or “TATACOMM”),...
February 3, 2021
TATA MOTORS
Click here to download the report The Leading Automobile Manufacturer Tata Motors Limited (“TML” or “the Company”), part of...
January 30, 2021
Monthly Snapshot – January 2021
Click here to download the report Global markets saw massive profit booking and India was no exception especially with...
January 20, 2021
CENTURY PLYBOARDS INDIA LIMITED
Click here to download the report A Pioneer in the Wood Industry Started in 1986, Century Plyboards (India) Limited...