(Bloomberg) — An appeals court upheld charges by Cyrus Mistry that he was improperly ousted as chairman of the $110 billion Tata Group, paving the way for his reinstatement and marking a loss for the conglomerate’s chairman emeritus Ratan Tata.A two-judge panel of India’s National Company Law Appellate Tribunal on Wednesday said Ratan Tata’s actions against Mistry were oppressive and the appointment of a new chairman was illegal. The court also said Tata Sons’ move to turn private from a public company was unlawful and ordered a reversal.The order will take effect after four weeks and Tata has the option …read more
Source:: Yahoo Finance
