May 24, 2018 | 145 words | Read in less than a minute
Mumbai: Tata Sons announced that it welcomed the order of the National Company Law Tribunal (NCLT) on July 9, 2018 dismissing all allegations against Tata Trusts, its trustees and Tata Sons made by the Petitioners representing certain companies of the SP Group. The order of the NCLT vindicates the position of Tata Trusts and Tata Sons.
“The judgement has only re-affirmed and vindicated that Tata Sons and its operating companies have always acted in a fair manner and in the best interest of its stakeholders. The Tata Group has always been committed and will continue to be committed to transparency and good corporate governance of global standards,” said N Chandrasekaran, Chairman, Tata Sons.
“Tata Sons hopes that a finality will be given to the judgement of NCLT, Mumbai by all concerned in the larger interest of companies, the shareholders and the public,” Mr Chandrasekaran added.