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.
Weather Update: The mercury has started falling due to snowfall in the hilly areas. Be it Kashmir
Achievement: Army's strength will increase, and Russia's AK-203 will be ready in UP by December
Russia's AK-203 rifle, which runs at lightning speed, will start making in India by December. Thi
Varanasi Civil Judge Senior Division Ravi Kumar Diwakar has received threats. He had ordered a su
Taipei
Furious with China's threats, Taiwan has retaliated by saying that it will fight t
What does the law say in the case of Arnab Goswami's arrest?
Maharashtra's Raigad police on Wednesday morning arrested Arnab Goswami and two others for allege
Amidst the war with Russia, Ukrainian President Volodymyr Zelensky has announced that he will soo
India is set to host a two-day counter-terrorism meeting of the United Nations Security Council (
The Indian cricket management has taken many tough decisions regarding the Test series against Sr
National Herald Case: ED issues fresh summons to Sonia Gandhi, asks her to appear on July 21
Sonia Gandhi Summoned By ED: Congress President Sonia Gandhi has been summoned by the ED for ques
PM on Eid: 'Let unity prevail...', PM Modi gave a special message on Eid Milad-un-Nabi
Prime Minister Narendra Modi has greeted the countrymen by giving a special message on Eid Milad-
