The Supreme Court on Thursday dismissed Shapoorji Pallonji group's petition seeking review of apex court's March 2021 judgment upholding Tata group's decision to remove Cyrus Mistry as executive Chairman of Tata Sons.
The SC bench headed by Chief Justice N V Ramana, however, did order the deletion of certain remarks made against Cyrus Mistry in the March 2021 verdict.
Senior advocate Harish Salve, who was representing the Tata group, said the apex court may permit the deletion of one or a few sentences not for the reasons given in the application of the Sapoorji Pallonji (SP) group.
The top court on March 26, 2021, had set aside a National Company Law Appellate Tribunal (NCLAT) order restoring Mistry as the executive chairman of $100-billion salt-to-software conglomerate.
The apex court had also dismissed a plea of Shapoorji Pallonji Group seeking the separation of ownership interests in Tata Sons Pvt Ltd (TSPL).
Post the verdict in favour of Tatas, Ratan Tata, in a tweet, expressed his gratitude for the Supreme Court's decision. "We would like to express our grateful appreciation of the judgement passed and upheld by the Supreme Court today," wrote Tata.
He added that the decision reinforced the value system and the ethics of India's judiciary. "It reinforces the value system and the ethics of our judiciary," he added.
To be sure, Mistry had succeeded Ratan Tata as the chairman of TSPL in 2012 but was ousted four years late.
Also read: 'Life not always fair; I sleep with clear conscience,' says Cyrus Mistry after SC verdict