Basically, the turning point in Tata-Mistry saga, Cyrus Mistry on Sunday finally made a statement that he would ready not take up the chairmanship of Tata Sons or become director of any Tata Group company but he will definitely create all options to protect the Shapoorji Pallonji Group`s rights as minority stakeholder, including a seat at the Tata Sons` Board.
He also remarked that his decision has been made in the betterment of the Tata Group, "whose interests are far more important than the interests of any individual".
Even if tries to solve the wrong campaign that being conducted, I hit hard to make it clear that despite the NCLAT made it a clear order in my favour, I will not be continuing the Executive Chairmanship of Tata Sons, or any Directorship of TCS, Tata Teleservices or Tata Industries.
But in a recent media reports considered to Ratan Tata and others questioning the NCLAT judgment ahead of a hearing in the Supreme Court, he mainly contended these "profess an interpretation of corporate democracy as always being one of brute majoritarianism with no rights for minority stakeholders".
Mistry finally made a clear statement that the founding fathers of the Tata Group had also laid a strong ethical foundation that cared for all stakeholders and the relationship between the Tata Group and the Shapoorji Pallonji Group is mainly one spanning multiple decades that was built on the common agreement and mutual faith.
The final statement comes just days after Tata Sons and its Chairman Emeritus Ratan Tata moved the Supreme Court challenging the National Company Law Appellate Tribunal`s December verdict which ordered the return back of Mistry as the Chairman of Tata Sons.
Ratan Tata, in the petition again filed in the top court on January 3, by making a clear statement that the appellate tribunal`s verdict was "even senseless" and it made it down the core foundation (corporate and governing parts) of the company.
On Mistry`s replacement as the Chairman of Tata Sons, he told in front of the apex court in his petition that the relationship between Mistry and Tata Trusts had become odd and it was felt by Tata Trusts that he is not ready to provide robust leadership to Tata Sons in future.
Mistry was hired to become as the sixth chairman of Tata Group in 2012 but setback on October 24, 2016.
The Central Teacher Eligibility Test (CTET) 2022 to be organized by the Central Board of Secondar
Asus has launched its latest flagship smartphone, the Asus Zenfone 10 in Europe. The smartphone i
Gujarat: Kejriwal announces, AAP will contest all assembly seats in 2022
Delhi Chief Minister Arvind Kejriwal arrived in Gujarat on a one-day visit today. Kejriwal went s
Elon Musk now announces to buy 'Coca Cola' after Twitter! Said- will make Twitter more fun
Elon Musk, the world's richest person, recently bought the micro-blogging site Twitter for $44 bi
There is good news for our country with the largest youth population in the world. According to t
The fifth test match is being played between India and England at the Edgbaston Cricket Ground. H
A heated debate has erupted between Bollywood actor Harshvardhan Rane and his Sanam Teri Kasam co
The budget of the UP government was presented on Thursday. Finance Minister Suresh Khanna present
India-Pakistan: 'Stay out of our internal matter', India slams OIC Secretary General's visit to PoK
India has strongly objected to the visit of Organization of Islamic Cooperation (OIC) Secretary G
Till now more than 41 thousand people have lost their lives due to the earthquake in Turkey-Syria
