Tata-Mistry vs Cyrus Mistry in 'open court'!!!
Cyrus Mistry was the sixth chairman of Tata Sons and he was removed from this position in october 2016. It was said that Mistry was not performing as expected and that Tata Sons suffered under his supervision.
In a relief to Cyrus Mistry's group, the supreme court has decided to reconsider its march 26, 2021 decision upholding Tata Sons' decision to remove him from the company's executive chairman and board of directors in 2016. The matter will be heard on march 9.
Justice Ramasubramaniam has disagreed with this february 15 order to consider the review petition. review petitions are considered within the Chamber of Judges as per the rules of the supreme Court.
In the order issued on Monday, the majority said that the applications seeking oral hearing of the review petitions are accepted. On the other hand, Justice Ramasubramaniam, differing from the majority view, has said, I regret my inability to agree with the order.
Mistry was removed from the post of chairman in october 2016.Mistry was suddenly removed from the post of Tata Sons chairman on 24 october 2016 without assigning any reason.
However, later in some press statements, the group claimed that Mistry was not performing as expected and that Tata Sons suffered losses under his supervision. On the other hand, according to Mistry, the loss figures did not include dividends from the group's huge profit-making company TCS, which averaged over 85 per cent annually.