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SC Dismisses Cyrus Mistry's Review Petition Against His Removal From Tata Sons

The genesis of the dispute can be traced to the removal of Cyrus P. Mistry as executive chairman of Tata Sons in 2016

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The Supreme Court on Thursday dismissed review petitions filed on behalf of Cyrus Investments and Sterling Investments against the final order and judgment dated 26 March 2021.

The genesis of the dispute can be traced to the removal of Cyrus P. Mistry as executive chairman of Tata Sons in 2016.

Thereafter, the investment companies of Mistry, Cyrus Investments and Sterling Investments which are shareholders of Tata Sons filed a petition before the National Company Law Tribunal (NCLT), Mumbai bench, alleging oppression and mismanagement of Tata Sons by Tata Trusts and Ratan N. Tata. 

However, the NCLT ruled against Mistry and dismissed all the said contentions. The National Company Law Appellate Tribunal (NCLAT) had overturned the decision of the NCLT and it is against this judgment of the NCLAT that Tata Sons had moved Supreme Court which had allowed the appeal filed by Tata sons on 26 March 2021. 

The review petition which was filed on 24 March 2021, came up today in open court and was dismissed. 

In a separate application for expunction of remarks, the court has agreed to expunge certain remarks made against Mistry but has also directed that certain offensive paragraphs directed against the Court made in the application for expunction be deleted and withdrawn by Mistry. 

Appearing on the Tata side were Harish N. Salve and Dr A.M. Singhvi, Ld. Sr. Advs., assisted by Dhruv Dewan and Avishkar Singhvi, Ld. advocates briefed by a team from Karanjawala and Co. advocates led by Ruby Singh Ahuja, Senior Partner, Tahira Karanjawala and Arjun Sharma, Principal Associates and Ashutosh P. Shukla, Senior Associate.  

Appearing for the side of Mistry and his investment companies were C.A. Sundaram and Shyam Divan, Ld. Sr. advocates and Somasekhar Sundaresan, Rohini Musa, Rohan Jaitley, Samiksha Godiyal, Abhishek Venkataraman, Ravi Tyagi, Jaiyesh Bakhshi and Rini Badoni, Ld. advocates.


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