Cyrus Mistry Seeks Review Of Supreme Court Judgement Backing Tata Group

Last month, the Supreme Court had endorsed the removal of Cyrus Mistry and set aside a company law tribunal order that had reinstated him.

Cyrus Mistry's Shapoorji Pallonji Group has urged the Supreme Court to review its judgment that backs the Tata Group's decision to remove Mr Mistry as the chairman. Last month, the Supreme Court had endorsed the removal of Cyrus Mistry and set aside a company law tribunal order that had reinstated him. "That failed business decisions and the removal of a person from Directorship can never be projected as acts oppressive or prejudicial to the interests of the minorities, is too well-settled. In fact it may be conceded today by Tata sons that one important decision that the Board took on 16.03.2012 certainly turned out to be a wrong decision of a life time," said the judges. Days after the Tata Group's big win in one of the most high-profile boardroom legal battles in recent years, Mr Mistry had said "life is not always fair" but "I sleep with a clear conscience". "As a minority shareholder of Tata Sons, I am personally disappointed by the outcome of the judgement with respect to our case. Although I will no longer be able to influence the direction of governance of the Tata group directly, I hope that the issues I have raised, will cause deeper reflection and influence individuals concerned to catalyse change. I sleep with a clear conscience," he said said in a statement.