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Tata Sons Board Room Battle:

Cyprus Mistry wins round one

over 660,000 people. Future moves and minority shareholder rights. The
tehelka bureau would be watched with interest by outcome of the appeal is a vindication
large shareholders and public at large of my stand.” Mistry said in a statement.
and corporate sector as to how the Tata “For over 50 years, the Mistry family,
n a day of important develop- Sons companies are being run. as the significant minority shareholder
ments, the National Company Shares of key Tata group companies of Tata Sons, has always endeavoured to
Law Appellate Tribunal (NCLAT) tumbled on the BSE on December 18 play the role of a responsible guardian
on December 18, 2019 restored following the NCLAT order. While Tata of an institution that the entire nation is
I Cyrus Mistry as Executive Chair- Motors fell over 3 per cent, Tata Steel proud of. The outcome of the appeal is a
man of Tata Sons while Tata Sons has 2.21 per cent, while Tata Communica- vindication of my stand taken when the
announced that it would seek legal tions was down 7 per cent at the close then board of Tata Sons, without warn-
remedies. In view of this Tata Sons of trading. ing or reason removed me, first as the
moves would be watched with interest Reacting to the NCLAT’s order re- executive chairman, and subsequently
in coming days. instating him back as Executive Chair- as a director of Tata Sons.”
The stakes are high in this battle for man of Tata Sons, Cyrus Mistry claimed, By the same order, the NCLAT has
control of a group with over $110 bil- “It was a vindication of his stand”. He also held the appointment of N Chan-
lion ( 7.8 lakh crore) in revenues, 29 commented “Today’s judgment isn’t a drasekaran as Mistry’s successor ille-
listed companies under its belt, opera- personal victory for me, but is a victory gal. Cyrus Mistry, the 44-year-old son of
tions in 160 countries, and employing for the principles of good governance Pallonji Mistry of the Shapoorji Pallonji

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