5 important facts to know about Tata group's former chairman

By FnF Correspondent | PUBLISHED: 05, Sep 2022, 17:11 pm IST | UPDATED: 05, Sep 2022, 17:11 pm IST

New Delhi: Former chairman of Tata group, Cyrus Mistry died on Sunday in a road accident. He was the first one outside of the Tata family to be the chairman of the Tata group. Let's have a look at the five important stages of his career journey by continue reading.

Cyrus Mistry attended the prestigious Cathedral and John Connon School in Mumbai before completing his higher education in England. There, he earned degrees in civil engineering from Imperial College, London, and management from the London Business School. He is the son of Pallonji Mistry. Pallonji Mistry was the head of Shapoorji Pallonji Group.

Cyrus Mistry was announced as the sixth chairman of the Tata group in 2012. Five member team selected him as the sixth chairman of the company. He was appointed after the announcement made by Ratan Tata to retire.

Noel Tata is the brother-in-law of Cyrus Mistry. Noel Tata is the half-brother of Ratan Tata. News Agency Reuters said that Mistry's father, a reclusive billionaire with an estimated $7.6 billion in wealth, helped his younger son rise to the top of a company started by Ratan Tata's great-grandfather.

Despite the fact of a long tussle with the Tata group, Mistry was the largest single shareholder in the Tata group. He staked 18.4 percent share in the company. Mistry invested through two companies i.e. Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd.

Cyrus Mistry was appointed as the sixth chairman of the Tata group in 2012. But in 2016 he was removed from the post of chairman. After that Mistry appealed in the NCLAT against the removal as illegal. NCLAT ordered to reinstate Mistry as chairman. Tata group went to Supreme Court against the order of NCLAT. In a long tussle, Supreme Court stayed the order in 2021. After the Supreme Court decision, finally, the legal battle between Mistry and Tata group came to end.