Tata Sons Ltd moved the apex court against the reinstatement of Cyrus Mistry as executive Chairman and also against his immediate reinstatement as director of the Tata Sons and three group companies named Tata Consultancy Services Ltd (TCS), Tata Industries Ltd and Tata Teleservices (Maharashtra) Ltd.
The petition would be heard on 6 January when the court opens. The petition is seeking urgent relief ahead of TCS board meeting on 9 January, as the board is meeting to consider its third-quarter earnings and would need to decide on the reinstatement of Mistry as a director. The appeal comes after the National Company Law Appellate Tribunal (NCLAT) on 18 December reinstated ousted chairman Cyrus Mistry and held as illegal the appointment of N. Chandrasekaran as his successor. The appeals court had cited the haste in the removal of Mistry as chairman of the Tata group’s holding company, ignoring the interest and oppression of minority shareholders, and mismanagement at Tata Sons as reasons for the ruling.
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