Mistry loses battle with Tatas, tribunal junks plea

HIGHLIGHTS

Mistry was the first man outside the Tata family to become chairman
The Mistry family hold highest single stake in Tata Sons

Reuters

Published: July 09, 2018 12:05 PM IST

Ratan Tata with Cyrus Mistry — Mistry was ousted in 2016 after accusations of breach of trust and violation of the articles of association surfaced: File photo

Mumbai: The National Company Law Tribunal (NCLT) on Monday dismissed a petition by former Tata Sons chairman Cyrus Mistry who had alleged oppression of minority shareholders and mismanagement by Tata Sons, drawing the curtains on an 18-months long feud.

The NCLT, a quasi-judicial body for corporate grievances, said it did not find any merit in allegations of mismanagement in Tata group companies.

Mistry was ousted from the board of Tata Sons after a four-year stint in October 2016, and Ratan Tata was restored as the interim chairman.

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