Tata Sons chairman N Chandrasekaran on Sunday paid his tribute to Cyrus Mistry, 54, who gave up the ghost in an twist of fate in Palghar close to Mumbai on Sunday.
Mistry was once the 6th chairman of Tata Sons earlier than being ousted from the placement in October 2016 following an enormous criminal tussle with the rustic’s greatest industry staff.
In a commentary, Chandrasekaran, who later took over as government chairman of Tata Sons, mentioned it was once “really tragic that he passed away at such a young age”.
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“I am deeply saddened by the sudden and untimely demise of Mr Cyrus Mistry. He had a passion for life and it is really tragic that he passed away at such a young age. My deepest condolences and prayers for his family in these difficult times, ” he wrote in a commentary.
Mistry had taken over because the chairman of Tata Sons in December 2012 after Ratan Tata introduced his retirement, turning into simplest the second one most sensible reliable to not endure the Tata circle of relatives title. His go out in 2016 got here after an overly public, years-long court docket and boardroom struggle between two of India’s maximum storied company clans.
In 2021, the Supreme Court mentioned Mistry’s ouster was once criminal and in addition upheld Tata Sons’ regulations on minority shareholder rights, which made it tough to promote stocks with out board approval. That intended the stake, price nearly $30 billion in early 2022, was once mainly illiquid.
(With inputs from businesses)
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