The National Company Law Tribunal (NCLT) has rejected Cyrus Mistry's petition for his illegal removal as Tata Son's Chairman saying that the case has no merit. According to reports, the Mumbai Bench of the NCLT ruled in favour of Tata Sons saying the board of directors are competent to remove executive directors.
Reportedly, NCLT highlighted that the Tata Son Board members had lost their confidence in Mistry and therefore he was dismissed. Mistry had allegedly also shared some crucial information about the company to the IT-Department and had leaked important news to the media, coming out openly in public against the company's shareholders and its board.
According to ANI, In his plea, Mistry had said that his removal as Tata Sons' chairman was illegal. He had also alleged mismanagement at Tata Sons, oppression of minority shareholders, a breakdown of corporate governance and excessive interference by Tata Trusts.
Mistry was ousted from the board of Tata Sons after a four-year stint on October 24, 2016, and Ratan Tata was restored as the interim chairman. He was also removed as a director on the board of the holding company on February 6, 2017. Ever since then, Mistry has been engaged in a legal feud with the Tata Group.