NEW DELHI: The Supreme Court on Monday agreed to hear review petition by Shapoorji Pallonji Group in connection with Tata Group vs Cyrus Mistry case.
The petition by Cyrus Mistry will be heard in an open court on March 9.
Mistry had succeeded Ratan Tata as the chairman of Tata Sons in 2012 but was ousted 4 years later, after which legal battles followed.
In March 2021, the Supreme Court had upheld Tata Sons' decision to sack Cyrus Mistry as chairman of the salt-to-software conglomerate.
The apex court had pronounced its judgement on the cross appeals filed by Tata Sons and Cyrus Investments against the National Company Law Appellate Tribunal's (NCLAT) order which had restored Mistry as the executive chairman of the over $100 billion group.
The court had also refused to entertain Shapoorji Pallonji (SP) group’s plea for fair compensation of their equity shares in Tata Sons.
The SP Group had told the top court on December 17, 2020 that removal of Mistry as the chairman of Tata Sons in a board meeting held in October 2016 was akin to a “blood sport” and “ambush” and was in complete violation of principles of corporate governance and pervasive violation of Articles of Association in the process.
Tata Group, on other hand, had opposed the allegations and said there was no wrongdoing and the board was well within its right to remove Mistry as the chairman.
The apex court had on January 10, 2020 granted relief to Tata Group by staying the NCLAT order of December 18, 2019 by which Mistry was restored as the executive chairman.
