SC judgement a validation of Tata group's ethics and values, tweets Ratan Tata
1 min read . Updated: 26 Mar 2021, 01:35 PM IST
Premium- A Supreme Court bench, led by Chief Justice S A Bobde, dismissed appeals of the Shapoorji Pallonji group and set aside the December 2019 NCLAT judgement which had ordered the reinstatement of Cyrus Mistry as chairman of Tata Sons
Mumbai: Following the Supreme Court judgement on Friday in the Tata Mistry battle, which went in favour of the Tata group, Ratan Tata in a tweet said he is grateful for the judgement by the country's top court.
A Supreme Court bench, led by Chief Justice S A Bobde, dismissed appeals of the Shapoorji Pallonji group and set aside the December 2019 NCLAT judgement which had ordered the reinstatement of Cyrus Mistry as chairman of Tata Sons.
Also Read | The great financial crunch: How the pandemic sank Indian states
"I appreciate and am grateful for the judgement passed by the honourable Supreme Court today," Tata tweeted.
"It is not an issue of winning or losing. After relentless attacks on my integrity and the ethical conduct of the group, the judgement upholding all the appeals of Tata Sons is a validation of the values and ethics that have always been the guiding principles of the group," he said.
The top court allowed the appeals filed by the Tata Group, holding that well-settled principles had been overturned by the NCLAT when it decided the dispute in the previous round.
"All the questions of law are liable to be favoured for Tata group. The appeals are allowed by Tata group," Chief Justice SA Bobde said.
The court also negated the NCLAT’s finding regarding “oppressive" practices resorted to by the Tata Sons Pvt Ltd in removing Mistry as the chairman of Tata Sons by a board meeting in October 2016.
