Home / Companies / People /  Tata vs Mistry: Shapoorji Pallonji Group files review petition in Supreme Court

New Delhi: Shapoorji Pallonji Group on Sunday filed a review petition in Supreme Court and challenged the top court's March 26 judgement in which it had ruled in favour of the Tata Group.

As per rules, the review petition is heard inside the chamber and before the same bench, which had passed the judgment in the case.

The Supreme Court in its judgement on March 26 had upheld the decision of the Tata Sons board in October 2016 to remove Cyrus Mistry, its then chairman, from office and later the company's board and set aside National Company Law Appellate Tribunal's (NCLAT) earlier order restoring Mistry's appointment as executive chairman of the Tata group.

Ousted Tata Sons Chairman Cyrus Mistry on Tuesday expressed disappointment over the Supreme Court order in the fight against the conglomerate over his ouster but asserted his conscience was clear and he had no doubt about the direction he took regarding the generational change in leadership during his tenure.

The apex court order on Friday had set aside the National Company Law Appellate Tribunal (NCLAT) order restoring Mistry as executive chairman of the conglomerate while allowing appeals filed by the Tata Group.

"Every member of society looks to institutions such as courts to validate and endorse the appropriateness of his or her actions and beliefs. As a minority shareholder of Tata Sons, I am personally disappointed by the outcome of the judgement with respect to our case," Mistry said in a statement.

He further said, "Although I will no longer be able to influence the direction of governance of the Tata group directly, I hope that the issues I have raised will cause deeper reflection and influence individuals concerned to catalyse change. I sleep with a clear conscience. "

On Friday a bench of Chief Justice SA Bobde and Justices AS Bopanna and V Ramasubramanian allowed appeals filed by Tata Group.

The court said, "All the questions of law are liable to be answered in favour of the appellants Tata Group and the appeals filed by the Tata Group are liable to be allowed and those by Shapoorji Pallonji Group are liable to be dismissed.

The apex court had on January 10 last year granted relief to the Tata group by staying NCLAT order by which Mistry was restored as the executive chairman of the conglomerate.

Mistry, who had raised several raised issues related to corporate governance and transparency, including alleged 22 crore fraudulent transactions involving non-existent entities in India and Singapore in Tatas' joint venture with Air Asia, besides accusing Ratan Tata of feeling insecure about his legacy, said he has reflected on his actions since his exit from the Tata Group.

During his tenure as Chairman of Tata Sons, Mistry said it was always his duty and privilege to present India to the global business community as a market of great opportunity and promise, backed by an effective rule of law that is just, equitable and evolved.

"At Tata Sons, I have had the opportunity to work with a fantastic team of people from diverse backgrounds in multiple industries and geographies all bound together by a common value system embedded by the founders into the Tata Group. For that opportunity, I shall be eternally grateful," Mistry said.

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