Mumbai: The National Company Law Tribunal (NCLT) in an order uploaded on its website on Thursday ordered a status quo on converting Tata Sons Ltd from public to a private company till 16 January. The tribunal was hearing an amended petition filed by Cyrus Mistry family firms, which alleged oppression of minority shareholders and mismanagement at Tata Sons.
In the amended plea, the Mistry family firms—Sterling Investments Pvt. Ltd and Cyrus Investments Pvt. Ltd—brought on record and objected to the decision taken by Tata Sons on 21 September to convert into a private company.
Spokesperson for Tata Sons and Cyrus Mistry declined to comment.