EPOD - NCLT OKAYS TATAS' BYE BYE TO CYRUS MISTRY

It appears there is finally some resolution in the eighteen-month-long battle between the Tatas and Cyrus Mistry at the National Company Law Tribunal (NCLT). The NCLT dismissed Cyrus Mistry’s plea for his alleged illegal removal from the post of Tata Sons’ Chairman. And that is our Pick of the Day. My name is Rakesh, and you are listening to Moneycontrol.

**

FIRST, THE VERDICT:

To those not in the know, let’s recap the saga quickly. Why was Mistry ousted? Why did he claim it was illegal? Was the Tata Sons board within its capacity to do so? And what was at stake?

We will get there – but the news from the verdict first. The hearing of the case lasted from October 2017 to February 2018. The verdict brings an end to the 18 month long battle.

The National Companies Law Tribunal (NCLT) dismissed Cyrus Mistry’s plea over his removal as Tata Sons chairman. The court stated that Mistry's conduct does not bode well for the smooth functioning of Tata Sons, as the former executive chairman allegedly leaked information to the media.