Big setback for Cyrus Mistry in fight against Tata Sons, this is what NCLT did
Cyrus Mistry had alleged mismanagement and oppression of minority shareholders by Tata Sons Chairman emeritus Ratan Tata and other trustees. Earlier, the ousted chairman fired a fresh salvo at the management questioning the rationale behind some actions like the free sale of its telecom arm to Airtel, massive debt-driven acquisitions by Tata Steel and its unequal tie-up with Thyssenkrupp, and a first-ever dip in TCS profit among others.
In yet another setback for former Tata Group chief Cyrus Mistry, the Mumbai Bench of the NCLT ruled that Tata Sons board of directors had the right to remove executive directors and that there was nothing wrong with the process. Image source: PTI