THE MOST COVETED SUCCESSION SAGA IN CORPORATE INDIA : THE TATA vrs. MISTRY CASE, REVIEW PETITION HEARING ON MARCH 09, 2022 (SUPREME COURT)

 

THE MOST COVETED SUCCESSION SAGA IN CORPORATE INDIA : 

HON'BLE SUPREME COURT OF INDIA HAS AGREED TO HEAR THE REVIEW PETITION OF Mr. CYRUS MISTRY IN TATA vrs. MISTRY CASE ON MARCH 09, 2022

 - May be interesting to some of my Readers.

The following news ( the above news ) has come out in all the mainstream media since yesterday. I have just given one link, that is of The Times of India below, but anybody can read in internet, there are lot of news.

The Tata-Mistry case is the example of most coveted succession saga in Corporate India. It is a very relevant case from the Corporate Sector ( Private Sector ) if read together with my article I wrote here few days back with the title " Artificial Shortage of Successors .... " in this Blog.

Placing it here, in case some Readers would have keen interest in OB (Organizational Behaviour) Area, in Succession matter of the Organizations, it may be interesting.

Mr. Cyrus Mistry was appointed as Chairman of Tata Sons as the successor in 1012. In 2016 he was abruptly and unceremoniously removed and a while later Mr. N. Chandrasekaran was appointed as Chairman of Tata Sons.

Mr Mistry contested his removal before the Courts and he was reinstated as Executive Chairman of Tata Sons, by National Company Law Appellate Tribunal ( NCLAT ). The matter went by appeal of Tata Sons to Hon'ble Supreme Court and last year Hon'ble Supreme Court had set aside the NCLAT reinstatement order.

Mr. Mistry has again approached the Hon'ble Supreme Court of India for review of its own order scrapping the NCLAT reinstatement order.

On 15-Feb-2022, by an order ( I have accessed and seen the order ), a Three Judge bench of Hon'ble Supreme Court presided by the CJI of India has agreed to hear the Review Petition on March 09, 2022. The review petition of Mr. Mistry has been accepted to be heard, by 2-Judge ( Hon'ble CJI + 1 Hon'ble Judge ) majority order, while 1-Honble Judge has dissented saying the review petition should have been dismissed.

I will only say, let us wait and watch how the matter gets adjudicated again on March 09, 2022 at the level of Hon'ble Supreme Court of India.

I am not passing any opinion on this subject, but it is a succession issue, interested readers may kindly read along with my post on succession citied above, that is there in this Blog (drnimain.blogspot.com).

The Times of India News Article Link on this subject :

https://timesofindia.indiatimes.com/business/india-business/tata-cyrus-mistry-case-sc-to-hear-review-petition-of-shapoorji-pallonji-group-on-march-9/articleshow/89731168.cms?tm_source=facebook.com&utm_medium=social&utm_campaign=TOIDesktop\

Finally, the Supreme Court on 19-May-2022, Thursday,  dismissed the Shapoorji Pallonji group's petition seeking review of the apex court's March 2021 judgment upholding the Tata group's decision to remove Cyrus Mistry as Executive Chairman of Tata Sons, and putting lid on this matter permanently. The link for the news article of India Today reporting this news is here below:

https://www.indiatoday.in/business/story/supreme-court-tata-sons-cyrus-mistry-shapoorji-pallonji-group-1951466-2022-05-19


About the Author : Dr. Nimain Charan  Biswal is a B.Sc.(Agri. Science and Technology), M.B.A. and Ph.D.(Management Area ) by qualifications and he has 36 years of work experience in both  industrial and development sectors in diversified fields of social importance. He has been educated at Orissa University of Agriculture and Technology (OUAT)-Bhubaneswar, Institute of Rural Management Anand (IRMA) and Gujarat University (with Resource Support of IIM-Ahmedabad). Dr. Biswal is further educated at IIM-Calcutta, XLRI-Jamshedpur, Apple Computer Industries and Spar Inc., USA. He has worked for reputed National and International Organizations in Senior/Top Management Capacities at Board level as well as Managing Director and CEO. He is a management expert covering extensive areas from management in agriculture, industrial management, development management to management of public systems. He is a prominent professional of India and known Internationally as well. He lives at Mumbai in India.


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