The National Company Law Tribunal in March 2017 first ruled in favour of the Tata Group, but that was reversed by the Appellate Tribunal that ordered Mistry be reinstated.
“Every member of society looks to institutions such as courts to validate and endorse the appropriateness of his or her actions and beliefs.
Reflecting on the Supreme Court order, Ousted Tata Sons Chairman Cyrus Mistry said, 'Life is not always fair, but we are still the lucky ones.'
Both parties are now expected to start negotiations, but the manner in which they’ll arrive at a mutually-acceptable price will be closely watched.
The bench was dealing with the objections of Shapoorji Pallonji (SP) Group companies on Tata vetting the minutes of the meetings of the Board post facto and his participation as a shadow Director.
Tata vs Mistry: Person who sets own house on fire doesn't deserve to be in decision-making body, says SC
It said the conduct of Cyrus Mistry in leaking his mail dated October 25, 2016 to the media and sending replies to the Income Tax authorities enclosing four box files.
The apex court order set aside an NCLAT order restoring Mistry as the executive chairman of the conglomerate while allowing appeals filed by the Tata Group.
A bench of Chief Justice S A Bobde and Justices A S Bopanna and V Ramasubramanian said it is allowing the appeals filed by Tata Group.
In a major victory for the Tata Group, the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as the executive chairman of the conglomerate.
Reacting to the apex court order setting aside the NCLAT order, restoring Mistry as the executive chairman of the conglomerate, Tata in a tweet said, 'It is not an issue of winning or losing.'
'The order of National Company Law Appellate Tribunal (NCLAT) dated December 18, 2019 is set aside,' the bench said.
The domestic carrier said that allegations regarding indirect foreign control in violation for norms were fully investigated by the Director General of Civil Aviation.
The CBI has registered a case against AirAsia Group CEO Tony Fernandes, Venkataramanan and other officials for allegedly trying to manipulate government policies to get international licence.
We have credible information that you have wrongfully and dishonestly taken movable property being confidential information, the letter from Tata Sons said.
Move comes a week after Mistry took Tata Sons to court, seeking to restrain Ratan Tata from attending board meetings.