Analysing the ‘Cyrus Mistry-Tata battle’ through the legal prism

Abstract

Undoubtedly, Tata Sons will challenge the NCLAT decision before the Supreme Court and another round of interesting legal battle will unfold before the apex court Based on the decision of the Director Board of Tata Sons Ltd. (TSL), its executive chairman Cyrus Mistry was suddenly removed from the position in October 2016. This removal was subsequently challenged before the National Company Law Tribunal (NCLT) by the minority shareholders of TSL namely Cyrus Investments Pvt. Ltd. (CIPL) and Sterling Investment Corporation Pvt. Ltd. (SICPL) under sections 241-242 of the Companies Act 2013 (Act) alleging prejudicial and oppressional acts of Tata Trusts and others who were the majority shareholders in TSL.