January 3, 2020 12:15:46 pm
Reserving its order on the plea filed by Registrar of Companies (RoC) in the Tata-Mistry case, the National Company Law Appellate Tribunal (NCLAT) Friday said the order would likely come up on Monday next week, as it was closed for winter vacations.
Today’s development comes a day after Tata Sons Private Limited moved the Supreme Court yesterday with a plea challenging the NCLAT’s judgment reinstating Cyrus Mistry as the chairman of the group.
A two-member bench headed by Chairman Justice S J Mukhopadhaya indicated the upcoming date of the order, PTI reported. During the proceedings, the Ministry of Corporate Affairs said it was discharging its duty and has not committed any illegality in the conversion of Tata Sons from public to a private company.
Cyrus Mistry was restored as the executive chairman of Tata Sons and director in the Tata Group on December 18 by the NCLAT bench. However, the NCLAT had suspended its direction for Mistry’s reinstatement for four weeks, on a request by senior advocate Abhishek Manu Singhvi who appeared for Tata Sons.
Mistry was unceremoniously ousted from the chairmanship of the holding company of the Tata Group on October 26, 2016, after a bitter fallout with Tata Sons and Ratan Tata. Along with Mistry, the entire senior management was also released and Ratan Tata returned to helm affairs, four years after retiring.
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