How much do you know Cyrus Mistry, who played an important role in India’s economy by being in controversies?

How much do you know Cyrus Mistry, who played an important role in India's economy by being in controversies?

Photo:PTI How much do you know Cyrus Mistry?

Former Tata Group chairman Cyrus Mistry Dies: Former Chairman of Tata Sons Cyrus Mistry died in a road accident near Mumbai today. Cyrus Mistry was on his way from Ahmedabad to Mumbai. During this, his car collided with the divider. Let us tell you, Cyrus Mistry was born in Ireland. His family is counted among the richest Indian family in Ireland. He made a significant contribution to the Indian economy. He also got into controversies with the Tata Group. Today we will know the detail story of his being in controversies to becoming a brilliant businessman.

What was the Tata-Cyrus controversy?

Mistry took over as the chairman of Tata Sons in 2012, but had to step down on October 24, 2016 after a rift with the board members. Let us tell you, in December 2019, the National Company Law Appellate Tribunal (NCLAT) had declared the proceedings of the Tata Board meeting held on 24 October 2016 illegal. In this board meeting, the decision was taken to remove Cyrus Mistry from the post. The Supreme Court, while setting aside the order of the NCLAT, said that the process of removing Sairab Mistry from the post is completely legal. The petition was filed by Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd, requesting the Supreme Court to reconsider the decision.

When Ratan Tata leveled allegations against Cyrus

Former Tata Sons chief Ratan Tata alleged that even after becoming the chairman of Tata Sons, Mistry did not want to dissociate himself from the family business due to conflict of interest. The former Tata Sons chief reached the Supreme Court a day after Tata Sons challenged the December 18 decision of the NCLAT in the apex court. Ratan Tata, in his petition filed in the apex court, said that Mistry was a pre-condition for his appointment as the chairman of Tata Sons from his family business Shapoorji Pallonji Group.

Petition was filed against Cyrus

The petition said that on various fronts, Cyrus Mistry, despite being the chairman of Tata Sons, was reluctant to part with his family business, which was a pre-condition for his appointment as the chairman of Tata Sons. Mistry’s leadership was lacking on various fronts and relations between him and the Tata Trusts had turned hostile before his removal.Tata also said that the Tata Trusts felt strongly that Mistry would provide a strong leadership to Tata Sons in the future. can not do.

The Supreme Court had on January 10, 2020 stayed the NCLAT order reinstating Cyrus Mistry as the executive chairman of the Tata Group. Chief Justice S. a. Bobde, Justice B.R. Gavai and Justice Surya Kant agreed to hear Tata Sons’ plea challenging the National Company Law Appellate Tribunal’s (NCLAT) order.

Who was Cyrus Mistry?

Cyrus Pallonji Mistry was born on 4 July 1968. Cyrus Mistry was born in Ireland. He studied business from London. He was the youngest son of Shapoorji Pallonji. His family is counted in the list of the richest family in Ireland. In 1991, he started his career in his father’s company, named Shapoorji Pallonji & Co. In 1994 he was appointed as the Director of Shapoorji Pallonji Group. The company prospered under his supervision.

Business spread in many areas

The company does business in the fields of marine, oil gas and railways. Construction work is spread over more than ten countries. Cyrus’s company has made more than one record in India. Including the construction of the tallest residential tower, the construction of a long rail bridge to the big port.

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