MUMBAI: Tata Sons will move the Supreme Court to seek early interim relief from the tribunal order reinstating Cyrus Mistry ahead of the TCS board meeting scheduled for January 9 to consider Q3 results. The National Company Law Appellate Tribunal (NCLAT) ruled on December 19 that Mistry should be reinstated as director of Tata Sons and three group firms — TCS, Tata Industries and TTSL (Maharashtra). Mistry had been ousted as Tata Sons chairman in October 2016 and was eventually succeeded by N Chandrasekaran.Tata Sons and TCS declined to comment. Postponing a scheduled board meeting can look like a deliberate attempt at not complying with the order, he said.“Cyrus Mistry can make an application before the NCLAT for seeking specific directions for compliance with the order passed in the upcoming board meeting,” he said. The chairman has held a meeting with group CEOs to apprise them of developments and allay concerns.Tata Trusts nominee Venu Srinivasan, Ajay Piramal and Farida Khambata were on the Tata Sons board at the time of Mistry’s ouster.

Source: Economic Times January 01, 2020 02:31 UTC