Mumbai: Cyrus Mistry has taken his legal fight against “oppression and mismanagement” at Tata Sons to next level. Mistry has now challenged his ouster as Tata Sons chairman on October 24 last year in Appellate Law Tribunal, CNBC-TV18 reported.
Earlier Mistry had approached National Company Law Tribunal with a set of complaints against Ratan Tata, Tata Sons and some of its directors. Mistry in his petition wanted his ouster turned void and entire Tata Sons board disbanded.
NCLT refused a relief to aggrieved Mistry and rejected his plea for a stay on his ouster. Market regulator Securities and Exchange Baord of India has also given clean chit to Tata Sons. Mistry had alleged fraudulent transaction worth Rs 22 crore in Tata Son’s joint venture with AirAisa.
In retaliatory statement, Tata Sons charged Mistry of committing criminal breach of confidentiality and overlooking Tata Group's interests for personal gains.
