Days after National Company Law Appellate Tribunal (NCLAT) ordered Cyrus Mistry’s reinstatement as Tata Son’s executive chairman, the company has moved Supreme Court (SC) against the decision.
The development comes days after NCLAT had passed an order to restore Mistry as the executive chairman of the holding company.
Tata Sons challenged the entire order of the NCLAT and sought a stay on it in the wake of TCS board meeting scheduled to be held on January 9. Tata’s lawyers are believed to seek an urgent hearing on the matter after top court reopens on January 6.
NCLAT restored Mistry as executive chairman of the company and ruled the appointment of N Chandrashekaran as executive chairman of Tata Sons illegal in December 2019.
However, the two-member NCLAT bench had given four weeks to Tata Sons to appeal in the Supreme Court against the order.
Mistry, who was dramatically sacked three years ago at a board meeting of Tata Sons, now faces another hurdle as the company has now challenged the NCLAT order in SC.