The National Company Law Appellate Tribunal (NCLAT) on Wednesday restored Cyrus Mistry as executive chairman of Tata Sons, news agency Press Trust of India (PTI) reported. The tribunal reversed the order of National Company Law Tribunal which dismissed Cyrus Mistry's pleas challenging his removal as chairman of Tata Sons. The tribunal said Mr Mistry was removed from the board after its members lost confidence in him. The Tribunal on Wednesday also held the appointment of Natarajan Chandrasekaran as executive chairman of the salt-to-software conglomerate as illegal, according to PTI. (Also Read: Cyrus Mistry Restored As Tata Chairman 3 Years After Sacking: 10 Points)
Here is the chronology of events that have unfolded in Tata Sons-Cyrus Mistry case:
- October 24, 2016: Tata Sons ousts Cyrus Mistry from the post of chairman; names Ratan Tata as interim chairman
- October 25, 2016: Cyrus Mistry writes to Tata Sons' board accusing 'shadow control' by the Tata Trustees
- December 19, 2016: Cyrus Mistry resigns as director from all Tata group firms
- December 20, 2016: Mr Mistry moves National Company Law Tribunal (NCLT) alleging oppression of minority shareholders and mismanagement
- January 12, 2017: Tata Sons names N Chandrashekaran as Chairman
- February 6, 2017: Cyrus Mistry removed from the post of director of Tata Sons' board
- September 21, 2017: Tata Sons' board approves plan to become a private company
- June 12, 2018: National Company Law Tribunal NCLT sets July 4 as date of order
- July 4, 2018: NCLT defers judgement till July 9
- July 9, 2018: NCLT dismisses Cyrus Mistry's pleas challenging his removal as chairman of Tata Sons. The tribunal says Cyrus Mistry was removed as the board and its members lost confidence in him.
- December 18: National Company Law Appellate Tribunal (NCLAT) on Wednesday restores Cyrus Mistry as executive chairman of Tata Group. The tribunal also holds appointment of Natarajan Chandrasekaran as executive chairman of the salt-to-software conglomerate as illegal.