Disputes

Endgame for the Tata-Mistry tussle, or a new beginning?

While the NCLT will decide today on an array of issues raised by Cyrus Mistry, and whether these amounted to oppression of minority shareholders’ rights, the verdict will set important precedents for the future.
Getty Images
Cyrus Mistry (L) and Rata Tata; Pradeep Gaur/Mint via Getty Images and Pankaj Nangia/Bloomberg via Getty Images
On October 24, 2016, Cyrus Mistry, the then chairman of Tata Sons, had a visitor, Ratan Tata, his predecessor. It was a surprise visit. What Tata had to offer Mistry that afternoon was even more surprising. It was a devil’s alternative: quit or get sacked. This set off a board game. In the following weeks, Mistry was ousted from the board in corporate governance."In the Tata-Mistry battle, irrespective of the outcome, there will be a dash to the National Company Law Appellate Tribunal for an appeal. Though lawyers feel there will be something in the judgment for the minority shareholders, which might revive faith in the system, they wonder how strong this would be. Today those answers should be forthcoming.
On October 24, 2016, Cyrus Mistry, the then chairman of Tata Sons, had a visitor, Ratan Tata, his predecessor. It was a surprise visit. What Tata had to offer Mistry that afternoon was even more surprising. It was a devil’s alternative: quit or get sacked. This set off a board game. In the following weeks, Mistry was ousted from the board in corporate governance."In the Tata-Mistry battle, irrespective of the outcome, there will be a dash to the National Company Law Appellate Tribunal for an appeal. Though lawyers feel there will be something in the judgment for the minority shareholders, which might revive faith in the system, they wonder how strong this would be. Today those answers should be forthcoming.

Gift this story

0 article remaining this month.
300 characters remaining

Done, keep sharing

0 Left this month

We have e-mailed a link of this article to your friends. They would be able to access this article 0 times till the link expires.

Sorry, quota exhausted

0 article shares left

You have exhausted your quota of gift article shares for this month. Your limit will be reset on the 1st of next month.

Current Edition

[[^message]]

Result

[[/message]] [[#message]]

[[message]]

[[/message]]