A timeline of the events
The Tata Group has been embroiled in a feud ever since then-Chairman Cyrus Mistry was ousted in 2016. The Mistrys and the Tatas, who have been joined in marriage and business for over 70 years, are now set to part ways
A glance at the Tata business
The apex company in the Tata Group is Tata Sons which holds a controlling stake in its companies. In turn, Tata Trusts holds a 66% stake in Tata Sons, and oversees its board. The present Tata Sons Chairman is N. Chandrasekaran, who is the first non-Parsi outsider to lead the Tata Group. Ratan Tata is the Chairman of Tata Trusts
Who is Cyrus Mistry
He is the younger son of Pallonji Mistry who heads the Shapoorji Pallonji Group. The group holds an 18.37% stake in Tata Sons, and is its largest minority shareholder. Cyrus' sister Aloo is married to Ratan Tata's half-brother Noel.
The rise and fall of Cyrus Mistry
2011
Cyrus Mistry made Deputy Chairman of Tata Sons
2012
Ratan Tata retires and Mistry took his place as Chairman of Tata Sons. But things quickly turn sour between the two
2016
Mistry was forced out in a surprise Tata Sons board meeting and Ratan Tata replaced him as its interim Chairman.
2017
In January, N. Chandrasekaran was appointed as Chairman of Tata Sons which was converted from a publicly held company to a private enterprise in September. Mistry was also removed as a director on the board of Tata Sons
The legal drama
Mistry filed a suit challenging his removal in the National Company Law Tribunal (NCLT), which dismissed Mistry's claims
He appealed that ruling in the appellate tribunal (NCLAT) which declared the appointment of Chandrasekaran illegal, and ordered the reinstatement of Mistry as Chairman. It also held that the move to convert Tata Sons into a private company was "illegal".
Tata Sons appealed the decision in the Supreme Court which granted a stay on the order
The latest card in the feud
On Tuesday, the Shapoorji Pallonji Group told the Supreme Court that it would exit Tata Sons, provided an early, fair, and equitable solution was reached. The company said that separation from Tata Group is "necessary due to potential impact this continuing litigation could have on livelihoods and the economy"