One of the key issues raised by Mistry in his petition against his ouster as Tata Sons’ chairman in October 2016 was what he claimed were “corporate governance’’ lapses while floating the airline venture. In case the Supreme Court upholds the National Company Law Appellate Tribunal’s ruling that reinstated him as chairman of Tata Sons, there is a strong possibility that Mistry may want the board to either stop funding AirAsia India further — which could eventually result in the company having a reduced stake in the airline, something that the scion of the Shapoorji Pallonji group always wanted — or completely exit the airline by selling offTata Sons’ stake to another corporate house.
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