The National Company Law Appellate Tribunal (NCLAT) has reinstates Cyrus Mistry as executive chairman of Tata Group. As per NCLAT, Mistry’s removal from chairmanship was illegal.
Earlier in 2012, Mistry had been appointed as the sixth chairman of Tata Group. However, on October 24, 2016, he was ousted following a boardroom coup.
Following this, Mistry had moved the National Company Law Tribunal in Mumbai against Tata Sons and others for oppression and mismanagement. The tribunal had earlier dismissed the petitions.