Cyrus Mistry, previous chairman of Tata Group, has explained his stand on the group’s sick businesses was vindicated as losses in these “legacy hotspots” ongoing to mount even after a new administration, led by the recent chairman N Chandrasekaran, took more than.
In an affidavit filed in the Supreme Court docket (SC), Mistry gave facts of just about every enterprise that, he claimed, experienced unsuccessful due to the fact of improper enterprise phone calls made by his predecessor, Ratan Tata.
Both equally Tata and Mistry have moved SC versus the Nationwide Company Regulation Appellate Tribunal’s (NCLAT’s) December get that reinstated Mistry as a director on Tata Sons board and considered his removal as “illegal”. The SC, nevertheless, stayed the NCLAT get on January eleven. The SC explained the tribunal also granted the prayers which had been not prayed for by Mistry.
The petitions will be read by the SC from