The much-awaited verdict of the NCLT came on a petition filed by Cyrus Mistry after he was abruptly ousted as the Tata Sons Chairman.
The National Company Law Tribunal (NCLT) on Monday dismissed Cyrus Mistry's plea challenging his removal as Chairman of Tata Sons. Mistry was removed as the Tata Sons board and majority of its members lost confidence in him, the NCLT Mumbai's main bench of B S V Prakash Kumar and V Nallasenapathy said in a judgement. The tribunal said it was not accepting Mistry's contentions that his removal was due to the result of mismanagement by the board and oppression of minority shareholders of the group.
July 9, 2018: NCLT dismisses Cyrus Mistry's pleas challenging his removal as chairman of Tata Sons. The tribunal says Mistry was removed as the board and its members lost confidence in him.