Case Law Details
Cyrus Investments Pvt. Ltd. Vs Tata Sons Ltd. & Ors. (NCLAT)
NCLAT has held as under
(i) The proceedings of the sixth meeting of the Board of Directors of ‘Tata Sons Limited’ held on Monday, 24th October, 2016 so far as it relates to removal and other actions taken against Mr. Cyrus Pallonji Mistry (11th Respondent) is declared illegal and is set aside. In the result, Mr. Cyrus Pallonji Mistry (11th Respondent) is restored to his original position as Executive Chairman of ‘Tata Sons Limited’ and consequently as Director of the ‘Tata Companies’ for rest of the tenure.
As a sequel thereto, the person who has been appointed as ‘Executive Chairman’ in place of Mr. Cyrus Pallonji Mistry (11th Respondent), his consequential appointment is declared illegal.
(ii) Mr. Ratan N. Tata (2nd Respondent) and the nominee of the ‘Tata Trusts’ shall desist from taking any decision in advance which requires majority decision of the Board of Directors or in the Annual General Meeting.
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