Former Tata Sons chairman Cyrus Mistry passed away on Sunday. Cyrus Mistry, who succeeded Ratan Tata as the chairman of the group, was killed in a car accident in Maharashtra.
Former Tata Sons executive chairman Cyrus Mistry died in an accident on Sunday. 54-year-old Cyrus Mistry was traveling in a car along with three others when the vehicle crashed near Maharashtra’s Palghar district, Mumbai Voisin.
Chairman of Mahindra Group, Anand Mahindra and Chairman of RPG Companies, Harsh Goenka cried over the death of Cyrus Mistry, describing him as a man of greatness and substance.
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Everything you wanted to know about Cyrus Mistry
Cyrus Mistry, son of the late Pallonji Mistry, was part of the Shapoorji Pallonji family, which was active in business, mainly construction, for over a century. Mistry’s grandfather Shapoorji Mistry first acquired a partnership in Tata Sons in the 1930s.
Cyrus Mistry held 18.4% stake in Tata Sons through his company Cyrus Investments Pvt. range. Its net worth in 2018 was around $10 billion.
He was appointed as the sixth chairman of the Tata group in 2012. Relations between Cyrus Mistry and Tata were considered friendly until his first return as chairman of Tata Sons in October 2016. Cyrus Mistry was fired after some disagreements between him and her. Son of Tata Consils relating to the working of the company and the decisions taken by Cyrus Mistry.
After the retreat, Cyrus Mistry and Tata Sons have been engaged in one of the most prominent conference rooms for almost five years.
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Mistry Vs Tata Group Legal Battle
In October 2016, the Tata Council portfolio company voted to remove Cyrus Mistry as chairman, after giving him the opportunity to voluntarily resign. The brief announcement of Mistry’s dismissal soon after the Board of Directors meeting shocked the business community.
Cyrus Mistry challenged his dismissal as chairman in October 2016 before the National Court of Law (NCLAT), which ruled that the dismissal was illegal and that the company’s affairs were managed in a prejudicial and oppressive manner to its minority shareholders. .
After this Tata’s sons moved the Supreme Court on the order of NCLAT. Subsequently, in 2021 the Supreme Court passed an order from the National Societies Law Court of Appeal to reinstate Cyrus Mistry as the chairman.,
“During my mandate as the Executive Chairman of Tata Sons, it has always been my duty and my privilege to project India into the global affairs community as a marketplace of great opportunities and promise, backed by an effective primary which is fair, impartial and developed. ,” Cyrus Mistry had declared in an emotional announcement following the Supreme Court verdict.