Ratan Tata Lauds ‘Professional’ Judicial Process After Cyrus Mistry’s Plea Rejected
Earlier this week, the NCLT dismissed Mistry’s petition against Tata Sons.
Top industrialist Ratan Tata on Saturday praised the judicial process for its "professionalism and fairness", days after the National Company Law Tribunal (NCLT) rejected Cyrus Mistry's plea against Tata Sons.
Following the ouster of Mistry as Tata Sons Chairman in October last year, there has been lot of acrimony between him and the Tatas. Earlier this week, the NCLT dismissed Mistry's petition against the group.
Against this backdrop, Ratan Tata has expressed his "appreciation to all those involved in the NCLT, and particularly the high integrity of the judicial process".
Asserting that it is not about winning or losing, Tata said in a tweet, "It is all about the pride one gets in witnessing the high integrity of our judiciary, the fairness and the competence of everybody in the process".
Earlier this week, the NCLT dismissed the waiver application by the Mistry side filed against Tata Sons. The petitions were filed by two firms belonging to Cyrus Mistry's family, and sought waiver of an eligibility condition for moving the forum against Tata Sons.
After the dismissal of the plea by the NCLT, Mistry has moved the National Company Law Appellate Tribunal (NCLAT).