Vindication for Tatas

Another legal battle over stake valuation must be avoided

The Supreme Court’s verdict on Friday upholding the position of the Tatas brought the curtains down on one of the ugliest corporate wars in India. It was no doubt a comprehensive victory for the Tata group, as the court allowed all its appeals and upheld the right of a majority shareholder to make appointments to key managerial and leadership positions. The apex court’s scathing criticism of the Mistrys should be music to the ears of the Tatas. Among other things, the court accused Cyrus Mistry of “trying to set his own house on fire” as Tata Sons chairman and observed