SP Senior advocate Harish Salve, appearing for the Tata Group, said the group had agreed to remove some of the references based on the reasons given in the application. The Supreme Court had upheld the action of Tata Sons in firing Mistry in March last year and quashed the order of the Company Law Tribunal which had recalled him. In October 2016, Mistry was ousted as Tata Sons chairman in a dramatic move. The shareholders of the company later agreed with Tata Sons’ decision.
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In December 2016, Mistry approached the National Company Law Appellate Tribunal (NCLAT) alleging mismanagement of Tata Sons through two of his most influential investment firms, Cyrus Investment Pvt Ltd and Sterling Investment Corporation Pvt Ltd. This was the beginning of the legal battle. In December 2019, the Company Law Tribunal reinstated Mistry as the company’s executive chairman. Last year, Tata Sons challenged the decision of the Company Law Tribunal in the Supreme Court.
In March, the Supreme Court overturned a law tribunal order. Mistry’s problems with Ratan Tata led him out. Cyrus Mistry was the first person from outside the Tata family to lead the company. “This verdict is always a validation of the group’s guiding principles, values and ethics,” Ratan Tata said.