Ratan Tata expresses gratitude toward court judgment in Tata-Mistry case

Ratan N. Tata

Ratan Tata, industrialist and Chairman Emeritus of Tata Trusts, took to Twitter and expressed his "grateful appreciation" toward the Supreme Court judgment on May 19.

Earlier on Thursday, the SC dismissed the review petition filed by Cyrus Mistry in 2021 in the protracted Tata versus Mistry legal dispute.

The Supreme Court, however, agreed to expunge certain adverse observations made in a judgment against Mistry.

We would like to express our grateful appreciation of the judgement passed and upheld by the Supreme Court today.

It reinforces the value system and the ethics of our judiciary.

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— Ratan N. Tata (@RNTata2000) May 19, 2022

The court was hearing arguments on the review petition by Mistry against its judgment of March 2021 that ruled in favour of the Tatas by setting aside the order of the National Company Law Appellate Tribunal (NCLAT), which allowed the reinstatement of Mistry as chairman of Tata Sons and as a director on the board.

The apex court had supported the removal of Mistry from the board. Mistry had alleged oppression of minority shareholders and cited his removal as an instance. Rejecting the case, the apex court said business decisions gone wrong could not be viewed as prejudice against minority shareholders. The Supreme Court had held that all questions of law were answered in favour of the Tatas.