n a set back to ousted Tata Sons chairman Cyrus Mistry, a company law tribunal today ruled that the board of the USD 100 billion conglomerate was competent to dismiss its executive chairman, and said it found no merit in his allegations of mismanagement in Tata group firms.
Ratan Naval Tata, the chairman of the Tata Trusts, which own over 66 per cent in the Tata Sons, today welcomed the NCLT verdict that dismissed the petitions of Cyrus Mistry and his family, which is the single largest shareholder in the diversified group.
Leading stock exchange BSE has postponed the launch of its new platform for listing startups.
Liberty House approached NCLAT against COC and resolution professional of Bhushan Power & Steel seeking info on the bid finalisation process of the firm.
Tata Sons said NCLT order dismissing pleas of Mistry vindicates that the group and its operating firms have "always acted in a fair manner and in the best interest of its stakeholders".