Tata Vs Cyrus Mistry: Here Are Key Facts And Timeline Of Legal Battle

December 2012: Cyrus Mistry takes over as chairperson of Tata Sons

October 24, 2016: Mistry removed from the chairperson’s post by the majority of the board of directors of the company

February 6, 2017: At an EGM, the shareholders vote for Mistry’s removal from Tata Sons’ board

February 21, 2017: N Chandrasekaran takes over as Executive Chairman of Tata Sons

Mistry then files a suit alleging oppression and mismanagement in Tata Sons

July 12, 2018: The Mumbai Bench of the National Company Law Tribunal (NCLT) dismisses Mistry’s petition holding that the board of directors are competent to remove the chairman and that no selection committee is required to remove the executive chairman. The tribunal also rules Tata Sons can’t be prevented from becoming a private company and found no merit in arguments relating to mismanagement in Tata Group companies.

Mistry appeals to the National Company Law Appellate Tribunal

December 19, 2019: NCLAT allows the appeal and overturns the NCLT verdict; holds that the proceedings of the Board meeting removing Cyrus Mistry as chairperson is illegal. It quashes the appointment of Chandrasekaran as executive chairman in place of Mistry

January 2, 2020: Tata Sons challenges NCLAT decision before the SC. Ratan Tata also moved SC over NCLAT decision

January 10, 2020: SC stays NCLAT judgment

February 2020: Mistry files cross-appeal against NCLAT judgment, claims NCLAT failed to grant certain crucial reliefs to the Mistry firms

September 22, 2020: SC restrains Mistry’s SP Group from pledging any of its shares in Tata Sons for raising funds

December 8, 2020: Final hearing begins before a three-judge Bench

December 17, 2020: SC reserves judgment

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