New Delhi | Jagran Business Desk: Days after reports emerged that Cryus Mistry will not take over the role of a chairman of Tata Sons, Mistry has confirmed that he actually will not be pursuing the executive chairmanship of Tata Sons and its companies. "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 told ANI on Sunday.
"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. 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 added.
Previous reports had said that Mistry has only five months left of his tenure as chairman and that's one of the reasons why he is not keen to take up the post. He might appoint a nominee to carry out the best practices of corporate governance with the companies, added a report.
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Earlier on Thursday, Tata Sons had moved to Supreme Court against the reapointment of Cryus as company chairman. The petition had sought a direction from the top court to set aside or quash finding of the tribunal which held that the group's chairman emeritus Ratan Tata's actions against Mistry were oppressive.
Mistry, a scion of wealthy Shapoorji Paollonji family was removed as the Chairman of Tata Sons and its Board of Directors in October 2016. Mistry, whose family owns 18.4 per cent stake in Tata Sons had challenged his removal by NCLAT.