Business
Big Win For Tata Group As SC Dismisses Pallonji Group’s Plea
The Supreme Court on Friday quashed the NCLAT’s decision of 18 December 2019 in which they appoint Cyrus Mistry Cyrus Mistry as the acting chairman of the Tata Group.
A bench of Chief Justice SA Bobde and Justices AS Bopanna and V Ramasubramaniam accepted the Tata Group’s appeal. The bench said in its order, “The National Company Law Appellate Tribunal (NCLAT) order of 18 December 2019 is quashed.”
Tata Sons Private Limited and Cyrus Investments Private Limited had filed a cross-appeal against the decision of the National Company Law Appellate Tribunal (NCLAT), on which the verdict of the apex court has come. The order further said, “The Tata group’s appeal is accepted, and the SP group’s appeal is dismissed.”
Ratan Tata, the honorary chairman of the Tata group, on Friday welcomed the Supreme Court’s decision which quashed the NCLAT’s order to re-appoint Cyrus Mistry as the acting chairman of the Tata group. He called the verdict a seal on the integrity and ethics of the Tata group and thanked the court.
Tata responded to the decision and tweeted, “I appreciate the Supreme Court’s decision and I am grateful to the court.” He further wrote, “It is not a matter of defeat and victory. Constant attacks were made on my honesty and moral conduct of the group. The verdict has stamped the values and ethics of the Tata group, which have always been the guiding principles of the group. ” He said that this decision has strengthened the fairness of the judiciary.
News Source: Youtube
%20(2).jpg "Ratan Tata, industry titan and national icon, dies at 86")
%20(1).jpg "A priest recites prayers during a final viewing for the public to pay their respects to the former chairman of Tata Group Ratan Tata, in Mumbai, India.")
Business
Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise
%20(3).jpg "Virat Kohli pays tribute to Ratan Tata, Jay Shah ‘deeply saddened’ by veteran industrialist’s demise")
Tributes continue to pour in for Ratan Tata, with Virat Kohli and Jay Shah taking to their social media accounts to bid farewell to the industrialist.
Former Indian captain and batting legend Virat Kohli paid a touching tribute to Ratan Tata, the legendary business tycoon, who passed away on Wednesday night. Tata, a Padma Vibhushan recipient, was undergoing treatment in intensive care since Monday but breathed his last in Mumbai, leaving a profound impact on many across the nation.
Kohli expressed his condolences through his Instagram account on Thursday morning, sharing a heartfelt message along with a photo of the late industrialist.
Tata’s contribution to business, society, and philanthropy has been widely acknowledged, and his passing marks the end of an era.
The Board of Control for Cricket in India (BCCI) secretary, Jay Shah, also conveyed his sorrow, stating, “Deeply saddened by the loss of Shri Ratan Tata Ji. His leadership, integrity, and dedication to society set a remarkable standard for legacy. My heartfelt condolences to his loved ones. Rest in peace, Sir.” Shah’s words reflect the collective grief of a nation that has long admired Tata’s contributions to the country.
BCCI’s tribute
Additionally, the BCCI issued a statement about his demise.
“The BCCI expresses its deepest sorrow and joins the nation in mourning the passing of Shri Ratan Tata ji. His invaluable contributions across diverse fields have been instrumental in shaping India’s growth and success story.
His extraordinary legacy, founded on the principles of passion, empathy, visionary leadership, innovation, and excellence, will continue to inspire and guide future generations for years to come,” the statement read.
Ratan Tata, born on December 28, 1937, in Mumbai, embarked on his journey with the Tata Group in 1962 as a young executive. Over the decades, he transformed the group into a global conglomerate. His work was acknowledged with India’s second-highest civilian honour, the Padma Vibhushan, in 2008, and he received numerous accolades, including honorary doctorates from prestigious institutions in India and abroad.
Tata is survived by his family, including brothers and sisters Simone Tata, Jimmy Tata, Noel Tata, Aloo Tata, Shireen Jejeebhoy, Deanne Jejeebhoy, Leah Tata, Maya Tata, Neville Tata, Manasi Tata, Jamset Tata, Tiana Tata, and others, as mentioned in a family statement.
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