Won't pursue executive chairmanship of Tata Sons despite NCLAT order in my favour: Cyrus Mistry

WION Web Team New Delhi Jan 05, 2020, 05.47 PM(IST)

Cyrus Mistry's letter is likely to ratchet up an already-ugly war of words between the company and the ousted Tata chairman Photograph:( Reuters )

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Mistry, however, said he would vigorously pursue all options to protect his rights as a minority shareholder. 

Former Tata Sons chairman Cyrus Mistry on Sunday said that despite the National Company Law Appellate Tribunal (NCLAT) order in his favour, he will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS, Tata Teleservices or Tata Industries.  

''I intend to make it clear that despite the National Company Law Appellate Tribunal (NCLAT) order in my favour, I will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS, Tata Teleservices or Tata Industries,'' Mistry was quoted as saying as per news agency ANI. 

Mistry, however, said he would vigorously pursue all options to protect his rights as a minority shareholder. 

''I will however vigorously pursue all options to protect our rights as a minority shareholder, including that of resuming the 30-year history of a seat at the Board of Tata Sons&the incorporation of highest standards of corporate governance&transparency at Tata Sons,'' he further said.

He said he was humbled by the NCLAT order.

''I am humbled by the NCLAT order, which after review of the enormous material on record, recognized the illegal manner in which I was removed and the oppressive and prejudicial conduct of Mr. Tata and other Trustees,'' he added.

Mistry took over as the chairman of the conglomerate, replacing Ratan Tata in 2012 and was the sixth chairman of the group. However, he was removed as Director by the shareholders of Tata Sons in February 2017.