Cyrus Mistry and his long battle with Tata Sons

New Delhi: Cyrus Mistry, who died on Sunday in a road accident near Mumbai, was on of the four children of Pallonji Mistry. 

Pallonji Mistry died on June 28 earlier this year.

Cyrus Mistry, an Indian-born Irish businessman, succeeded Ratan Tata as Chairman of the Tata Group in 2012 before being ousted unceremoniously in 2016 as "the board of Tata Sons lost confidence in him and his ability to lead the Tata Group in future". 

Following his removal, boardroom battles played out with Mistry being removed as director in several listed and unlisted entities of the group, including TCS, Tata Steel, Tata Motors, Indian Hotels Co Ltd, Tata Chemicals, Tata Power, Tata Teleservices and Tata Industries.

Two Mistry family backed investment firms, Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd, moved NCLT Mumbai, alleging oppression of minority shareholders and mismanagement by Tata Sons, while also challenging Mistry's removal.

When NCLT Mumbai dismissed the pleas of the two Mistry family backed firms, they moved the NCLAT, which restored Mistry as executive chairman of Tata Sons, but suspended its implementation for four weeks in order to provide time for Tatas to appeal.

Then on January 2, 2020, Tata Sons challenged the NCLAT decision of December 18, 2019 before the Supreme Court. On March 26, 2021, the SC delivered its verdict, allowing Tata Group's appeals and sets aside the NCLAT order restoring Mistry as executive chairman of the Group.