Will not pursue executive chairmanship of Tata Sons: Cyrus Mistry
Updated:5 years, 9 months ago
New Delhi, Jan 05 (ANI): Cyrus Mistry on January 05 released a statement, saying that he is humbled by the NCLAT order and does not intend to pursue executive chairmanship of Tata Sons. This statement was released a day ahead of the Supreme Court (SC) hearing in which Ratan Tata challenged the National Company Law Tribunal's (NCLAT) verdict reinstating Cyrus Mistry as the Tata Sons Chairman. Cyrus said, “I intend to make it clear that despite the National Company Law Appellate Tribunal (NCLAT) order in my favour, I will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS, Tata Teleservices or Tata Industries.” “I am humbled by the NCLAT order, which after review of the enormous material on record, recognized the illegal manner in which I was removed and the oppressive and prejudicial conduct of Ratan Tata and other Trustees,” he added. “I will however vigorously pursue all options to protect our rights as a minority shareholder, including that of resuming the 30-year history of a seat at the Board of Tata Sons and the incorporation of highest standards of corporate governance and transparency at Tata Sons,” Cyrus Mistry further stated.
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