Cyrus Mistry on Sunday said he will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS, Tata Teleservices or Tata Industries. His statement comes despite National Company Law Appellate Tribunal’s (NCLAT’s) order in his favour. However, Mistry added that he will pursue all options to protect the rights of minority shareholders.
“To dispel the misinformation campaign being conducted, I intend to make it clear that despite the NCLAT order in my favour, I will not be pursuing the executive chairmanship of Tata Sons or directorship of TCS, Tata Teleservices, Tata Industries. I will, however, vigorously pursue all options to protect our rights as a minority shareholder including a seat on the board,” he said.
Ratan Tata had on Friday filed a petition in the Supreme Court seeking to quash the order of the National Company Law Appellate Tribunal (NCLAT) to re-instate Cyrus Mistry as the executive chairman of the Tata group.
His petition is separate from the one filed by Tata Sons Ltd, the holding company of the $110-billion salt-to-software conglomerate, in the apex court on Thursday that sought a stay on the NCLAT’s December 18, 2019 order to reinstate Cyrus Mistry as the chairman.