Cyrus Mistry moves NCLAT against Tata Sons shareholder meet on 6 Feb
- 14 Naxals killed in Gadchiroli encounter in Maharashtra
- BJP gears up for solo fight in Maharashtra polls, but alliance talks on with Shiv Sena
- Slay the beast of social media to curb societal ills
- Karnataka polls may turn out to be anybody’s game
- TCS bets on Business 4.0 to push digital revenue to over $5bn this year
New Delhi: Ousted chairperson of Tata Sons Ltd, Cyrus Mistry on Thursday moved the National Company Law Appellate Tribunal (NCLAT) against a 6 February shareholder meeting.
Mistry moved against the decision of the National Company Law Tribunal’s Mumbai bench, which permitted Tata Sons to hold its shareholder meeting on 6 February.
The NCLAT will hear the case on Friday, a lawyer aware of the development said, on condition of anonymity.
Mistry, in January, moved the NCLT seeking to restrain Tata Sons Ltd from holding the shareholders meeting to remove him as a director of the board.
The holding company for the Tata group moved to do so after being requisition by four Tata trusts.
Cyrus Investment Pvt. Ltd and Sterling Investment Corp Ltd, which together hold around 18.5% of ordinary share capital in Tata Sons, filed a contempt of court petition at the NCLT to stop the meeting.
The petition in NCLT sought punishment including simple imprisonment for a term which may extend up to six months, or a fine which may extend to Rs2,000, or both, for contempt of court by all those involved, including Tata Sons interim chairman Ratan Tata, directors of the holding company and some trustees of Tata Trusts.