Won't pursue executive chairmanship of Tata Sons: Cyrus Mistry
Cyrus Mistry on Sunday said he is not interested in getting back to the Tata Group in any capacity at all, ahead of the Supreme Court's hearing on an urgent petition seeking to set aside the NCLAT order reinstalling him as the group chairman and also in the board of group companies.
Mistry, the ousted Tata Sons chairman, in a public statement on late Sunday evening said he has taken the decision in the overall interest of the Tata group, whose interests are far more important than those of any individual.
'To dispel the misinformation campaign being conducted, I intend to make it clear that despite the NCLAT order in my favour, I will not be pursuing the executive chairmanship of Tata Sons or directorship of TCS, Tata Teleservices, Tata Industries. I will, however, vigorously pursue all options to protect our rights as a minority shareholder including a seat on the board,' he said.
Ratan Tata had on Friday filed a petition in the Supreme Court seeking to quash the order of the National Company Law Appellate Tribunal (NCLAT) to re-instate Cyrus Mistry as the executive chairman of the Tata group.
His petition is separate from the one filed by Tata Sons Ltd, the holding company of the $110-billion salt-to-software conglomerate, in the apex court on Thursday that sought a stay on the NCLAT’s December 18, 2019 order to reinstate Cyrus Mistry as the chairman.