NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Wednesday (December 18) restored Cyrus Mistry as Executive Chairperson of Tata Sons, and held the appointment of Natarajan Chandrasekaran as illegal. A two-member NCLAT bench headed by chairperson Justice SJ Mukhopadhaya pronounced the judgement following a petition was moved by Mistry. Mistry is a member of the Shapoorji Pallonji family that owns a minority stake in Tata Sons.
Earlier, the Mumbai Bench of the National Company Law Tribunal (NCLT) had dismissed the petitions filed by the two investment firms – Cyrus Investments Pvt Ltd and Sterling Investments Corp — challenging Mistry’ removal. Mistry had also personally approached the NCLAT over the NCLT order. Mistry was appointed as the chairman in 2012 and was the sixth chairman of Tata Sons.
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