Tata Sons moves SC against NCLAT's decision to reinstate Cyrus Mistry as Executive Chairman of the Group.
Error 404: Tata Sons has moved the Supreme Court against a December 18 NCLAT order restoring Cyrus Mistry as Executive Chairman of the Group, stating that the verdict had "undermined corporate democracy" and the "rights" of its Board of Directors. It was "completely inconsistent with the annals of corporate law" and reflected "non-appreciation of facts", which was "untenable in law". ToI
Sales is Falling Down: Tata Motors reported a 12% fall in total vehicle sales in domestic market to 44,254 units in December, 2019 vs sale of 50,440 units in the same month last year.
Tata Motors President (Passenger Vehicles Business Unit) Mayank Pareek said, "Our focus in December has been to drive retail and minimise the network stock in order to facilitate a smooth transition to BS-VI. "Having almost completed our planned production and despatches of BS-IV, we will start moving to BS-VI production and despatches from January and step up our volumes in the coming months," he added.
Total passenger vehicle sales for the period stood at 12,785 units compared to 14,260 units in the same month previous year, down 10%. Meanwhile, its commercial vehicle sales in December stood at 34,082 units as against 40,015 units in the year-ago month, down 15%. Moneycontrol
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