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.
Will Trump's 'tariff war' affect India? Finance Minister Sitharaman gave the answer.
US President Donald Trump, who claimed to end the Russia-Ukraine war, has started a 'tariff war'.
Number of Corona virus cases in India 41, Qatar banned entry
Many countries of the world are in awe due to the corona virus havoc. So far, 41 cases of this vi
According to UNICEF, more than 4 million children in Pakistan are still living near contaminated
Chinese scientists now claim this big claim regarding Coronavirus's Wuhan connection
Beijing: America has been continuously attacking China with the Coronavirus. China has been vigor
UP Investors Summit 2023 To make Uttar Pradesh the growth engine of New India, a new history will
Sri Lanka, which has faced the worst economic crisis in history in the past, is now taking steps
India achieved a big victory of 302 runs over Sri Lanka in the 33rd match of the World Cup 2023.
Elections taking a violent stand in Ayodhya's Gosaiganj, BJP and SP supporters clash again
There was a dispute between SP candidate Abhay Singh from Gosainganj and Vikas Singh, a supporter
UPSSSC PET Exam 2022: What is PET and what are its benefits, know complete details from here
The Uttar Pradesh Subordinate Services Selection Commission has started the application process f
Controversy has come to the fore once again in Karnataka regarding the hijab. Students sit on dha
