Former Tata chairman Cyrus Mistry has received a major relief from the National Company Law Appellate Tribunal (NCLAT). The NCLAT has invalidated the removal of Cyrus Mistry from the post of chairman of Tata Sons and ordered him to be reinstated. The NCLAT has also invalidated the management's decision to appoint N Chandrasekaran as executive chairman. This decision of NCALT is seen as a victory of Cyrus Mistry.

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Mistry will once again become the chairman of Tata Sons after three years. For information, let us know that earlier the Mumbai Bench of National Company Law Tribunal (NCLT) rejected the petitions filed by two investment firms Cyrus Investment Pvt Ltd and Sterling Investment Corp. Mistry reached the Appellate Tribunal after losing the case at NCLT. The Appellate Tribunal reserved the decision in July. The NCLAT also dismissed Chandrasekaran's appointment as incorrect. Chandrasekaran became the chairman of Tata Sons in February 2017. Tata Sons sought 4 weeks to appeal against the NCLAT decision, which was approved by NCLAT.

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Cyrus Mistry was removed as the chairman of Tata Sons in October 2016. Two months later, Mistry's family challenged the decision of Tata Sons on the Mumbai Bench of the National Company Law Tribunal (NCLT) on behalf of two investment companies. These two companies were Cirrus Investment Pvt Ltd and Sterling Investment Corp. The companies argued that Mistry had been unfairly removed and that the decision was different from the Companies Act, but in July 2018, the NCLT rejected the claim. After this, Mistry himself came forward and appealed against the NCLT decision. Cyrus Mistry became the sixth chairman of Tata Sons after Ratan Tata retired in 2012. Tata Motors closed at Rs 174.70, down 3.05% on the BSE following the NCLAT decision. Tata Global Beverages closed at Rs 311.80 with a loss of 4.14%. Tata Power reported a turnover of Rs 55.50, down 0.98%.

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