Active Stocks
Fri May 24 2024 15:59:27
  1. Tata Steel share price
  2. 174.80 -0.37%
  1. NTPC share price
  2. 374.85 0.68%
  1. State Bank Of India share price
  2. 828.60 -0.45%
  1. ITC share price
  2. 436.10 -1.16%
  1. Power Grid Corporation Of India share price
  2. 318.50 -0.39%
Business News/ News / India/  SC judgement a validation of Tata group's ethics and values, tweets Ratan Tata
BackBack

SC judgement a validation of Tata group's ethics and values, tweets Ratan Tata

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

Tata Sons chairman emeritus Ratan Tata. The Tata Group already has a presence in India’s aviation industry through AirAsia India and Vistara. Photo: Pradeep Gaur/MintPremium
Tata Sons chairman emeritus Ratan Tata. The Tata Group already has a presence in India’s aviation industry through AirAsia India and Vistara. Photo: Pradeep Gaur/Mint

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.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

ABOUT THE AUTHOR
Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 26 Mar 2021, 01:35 PM IST
Next Story footLogo
Recommended For You