Cyrus Mistry takes battle with Tatas to court, moves National Company Law Tribunal
Ousted Tata Sons chairman Cyrus Mistry on Tuesday took the battle with the Tatas to the courtroom moving the National Company Law Tribunal.
New Delhi: Ousted Tata Sons chairman Cyrus Mistry on Tuesday took the battle with the Tatas to the courtroom moving the National Company Law Tribunal.
As per report, Mistry took the battle against Tatas to the court and has move the National Company Law Tribunal charging the group of oppression and mismanagement of Tata Sons under Section 241 of Companies Act.
The National Company Law Tribunal will hear the petition on Thursday (December 22).
Petition against oppression and mismanagement of #TataSons under Section 241 of Companies Act; NCLT to hear petition on Dec 22.
— Press Trust of India (@PTI_News) December 20, 2016
This move by Mistry comes a day after he resigned from all six Tata Group companies namely Indian Hotels Co Ltd (IHCL), Tata Steel, Tata Motors, Tata Power, Tata Global Beverages and Tata Chemicals.
Following his resignation from the six group companies on Monday, the Indian Hotels Company Ltd (IHCL) shareholders had expressed concern over Mistry taking the battle to the courts.
Last week, after being ousted as the chairman and director of Tata Consultancy Services (TCS), Cyrus Mistry had vowed to continue fight against Tatas stating that he would work at various forums to be voice for change in Tata Group, its governance and protection of stakeholders' rights.
In a sudden move that took the corporate world by shock, Cyrus Pallonji Mistry was sacked as the chairman of Tata Sons on October 24 with chairman emeritus Ratan Tata appointed as the interim boss for four months.