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.
Actor Ayushmann Khurrana calls him Anubhav Sinha 2.0. Even fans of director Anubhav Sinha are lov
JP Morgan CEO praised PM Modi Jamie Dimon, Chairman and CEO of JP Morgan Chase, praised
PM Modi: PM Modi will gift many projects to Maharashtra today, will inaugurate National Games in Goa
Prime Minister Narendra Modi will today launch projects worth over Rs 7,500 crore aimed at benefi
On Sunday, the Board of Control for Cricket in India (BCCI) announced Team India for the first ma
There is a hint of a big upset in Haryana. In the trends so far, the BJP is forming the governmen
British PM Boris Johnson has been attacked by opposition MPs in his country's parliament. Opposit
A day-night test match will be played between India and Australia at Adelaide Oval Stadium in Ade
Veteran Bollywood actor Akshaye Khanna has been consistently making headlines lately, thanks to h
Sara Khan and her ex-husband Ali Merchant are currently present together in the reality TV show '
Surprising reactions on mentioning Sanatan-Hindu are sad, Vice President Dhankhar said in JNU.
Vice President Jagdeep Dhankhar said that it is ironic and sad that in India, the mention of Hind
