Cyrus Mistry, a former chairman of the Tata Group, passed away on Sunday in a car accident. The five most crucial details of his life are listed here. Browse through this collection to find out.
Cyrus Mistry, a former chairman
Cyrus Mistry, a former chairman of the Tata Group, passed away on Sunday in a car accident. He was the first non-Tata family member to serve as chairman of the Tata Group. Continue reading to learn about the five crucial phases of his professional development.
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Educating Cyrus Mistry
After graduating from Mumbai’s Cathedral & John Connon School, Cyrus Mistry continued his study in England. He attended Imperial College, London, for civil engineering and the London Business School for business education. He was born Pallonji Mistry’s son. Shapoorji Pallonji Group was led by Pallonji Mistry.
President, Tata Group
In 2012, Cyrus Mistry was named the new chairman of the Tata Group. He was chosen by a five-person panel to serve as the company’s sixth chairman. It was after Ratan Tata’s retirement announcement that he was given the position.
Ties to Ratan Tata
Cyrus Mistry is married to Noel Tata’s sister. As Ratan Tata’s half-brother, Noel Tata has some kinship ties to the business magnate. According to Reuters, Mistry’s father is a reclusive billionaire worth an estimated $7.6 billion who supported his son’s climb to the top of a corporation founded by Ratan Tata’s great-grandfather.
The Tata Group’s Share Price
Despite his protracted dispute with the Tata group, Mistry remained the company’s largest stakeholder. He has 18.4% ownership of the business. Mistry invested through two different firms, Cyrus Investments Pvt Ltd and Sterling Investments Corp Pvt Ltd.
Tata vs. Mistry
In 2012, the Tata group named Cyrus Mistry its sixth chairman. He had been chairman until 2016 when he was forced out. Mistry then filed an appeal with the NCLAT, arguing that his dismissal was unjustified. Mistry was reappointed to his position as chairman of the NCLAT by the court.
The Tata group challenged the NCLAT’s ruling by appealing to the Supreme Court. The Supreme Court finally delayed the ruling in 2021 after a protracted legal battle. Due to the Supreme Court’s ruling, the legal struggle between Mistry and the Tata group is concluded.