Renowned industrialist and Chairman Emeritus of Tata Group Ratan Tata today welcomed the Supreme Court's decision to reject a review plea filed by Cyrus Mistry's Shapoorji Pallonji Group to review its 2021 judgment that backed the Tata Sons' decision to remove him as the Chairman. He said it "reinforces the value system and the ethics of our judiciary" hours after the court order.
"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," Mr Tata tweeted.
In October 2016, Mr Mistry was removed as Tata Sons Chairman in a dramatic ouster. Months later -- in December 2016 -- two Mistry family-backed investment firms - Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd - had moved the National Company Law Appellate Tribunal (NCLAT), alleging mismanagement by Tata Sons.
Mr Mistry had sought reconsideration of the court's March 2021 order and also expunge of certain remarks against him in the said order.
Senior advocate Harish Salve, appearing for the Tata Group, said the court may permit the deletion of one or a few sentences not for the reasons given in the application of the SP group.
In March last year, the top court had endorsed the removal of Mr Mistry and set aside a company law tribunal order that had reinstated him.
Mr Tata had said the judgement was a "validation of the values and ethics that have always been the guiding principle of the group."
PM Modi Told Ratan Tata To Set Up Aircraft Unit In Gujarat: Sharad Pawar When Ratan Tata Borrowed Money From Amitabh Bachchan What Ratan Tata Thought Of Half-Brother Noel Tata Succeeding Him One Day Video: Man Sits On Firecracker In Bet For New Vehicle. Explosion Kills Him Charges Drawn Up In Kolkata Rape-Murder Case, Accused Says "Framed" "Cowardly Attempts To Intimidate Diplomats": PM's 1st Comments On Canada Row 3 Women Injured In Car Accident In North Delhi's Civil Lines VITEEE 2025: Registration Begins, Exams Start On April 21, Check Details Assam Police Rescue 19 Dogs, Arrest 4 In Crackdown On Illegal Smuggling Track Latest News Live on NDTV.com and get news updates from India and around the world.