Mistry joined the family construction company,
Shapoorji Pallonji & Co. Ltd as a director in 1991. He is credited with the turnaround of the struggling
Afcons Infrastructure in the years after its acquisition by Shapoorji Pallonji Group in 2000. Mistry had been managing director of Shapoorji Pallonji & Company, which is part of the Shapoorji Pallonji Group. He later became chairman of
Tata Sons and the
Tata Group. In 2018, his net worth was approximately US$10 billion.
Tata Sons Mistry joined the board of Tata Sons on 1 September 2006, a year after his father retired from it. He was a director of
Tata Elxsi Limited, from September 1990 to October 2009, and a director of
Tata Power Co. Ltd until September 2006. In 2013, Mistry was appointed the chairman of Tata Sons. In addition, he was also chairman of all major Tata companies including Tata Industries,
Tata Steel,
Tata Motors,
Tata Consultancy Services,
Tata Power,
Tata Teleservices,
Indian Hotels,
Tata Global Beverages and
Tata Chemicals. The Tata Sons board voted to remove Mistry from the chairmanship of Tata Sons in October 2016.
2018 NCLT verdict In July 2018, the
National Company Law Tribunal (NCLT), which "adjudicates issues relating to Indian companies," issued a verdict in favour of Tata Sons on charges of mismanagement levelled by Mistry in 2016, two months following his ousting as chairman, through a
vote of no confidence. On 10 July, Mistry stated that he would appeal the decision.
2019 NCLAT verdict In December 2019, the
National Company Law Appellate Tribunal reinstated Mistry as the chairperson for Tata Sons for his remaining term, and declared that the appointment of TCS CEO
Natarajan Chandrasekaran as executive chairman of Tata Sons was illegal. In January 2020, Tata Sons appealed to the Supreme Court against NCLAT's decision. Cyrus Mistry announced that he will not return to the Chairmanship of the conglomerate, but is interested in reserving his seat in the company's board. A three-judge bench comprising Chief Justice
SA Bobde and Justices BR Gavai and Surya Kant stayed NCLAT's order while hearing Tata Sons' appeal on 10 January 2020. The bench stated, "We find there are lacunae in the judicial orders passed by the NCLAT." The
Supreme Court of India also ordered that Tata Sons will not exercise power under Article 25 of the Company Law for pushing out shares of minority holders in the company. ==Personal life==