The former chairman of the Tata Sons wrote this letter days after the Supreme Court on March 26 ruled in favour of Tata Sons.
New Delhi: Former Tata Sons chairman Cyrus Mistry on Tuesday said that being a minority shareholder of the company, he is “personally disappointed” by the outcome of the Supreme Court judgement.
In an official statement, Mistry said he hopes that the issues raised by him will cause deeper reflection and influence individuals concerned to catalyse change.
Last week, the apex court upheld Tata Sons’ decision to sack Mistry as chairman of the salt-to-software conglomerate.
Days after the Supreme Court ruling in favour of Tata Sons, Cyrus Mistry on March 30 thanked the conglomerate for providing the opportunity to serve as its executive chairman and said that his conscience is clear.
The Supreme Court on March 26 ruled in favour of Tata Sons, allowing the conglomerate's appeals against the National Company Law Appellate Tribunal (NCLAT) order reinstating Cyrus Mistry as chairman.
Mistry served as the chairman of Tata Sons from December 27, 2012 to October 24, 2016.
“Over the past four years, I’ve had the opportunity to reflect on my actions and on whether I could have handled the generational change in leadership better. In hindsight, while I may have had many imperfections, I have no doubt or erosion of conviction about the direction I chose, the integrity behind my actions and their consequences,” he added.
Mistry served as the chairman of Tata Sons from December 27, 2012 to October 24, 2016.
“Over the past four years, I’ve had the opportunity to reflect on my actions and on whether I could have handled the generational change in leadership better. In hindsight, while I may have had many imperfections, I have no doubt or erosion of conviction about the direction I chose, the integrity behind my actions and their consequences,” he added.
Mistry also thanked his legal team that has remained steadfast and committed beyond the call of duty.