NCLAT Seeks Tata Sons' Reply to Mistry's Plea
The National Company Law Appellate Tribunal (NCLAT) has asked Tata Sons to file a reply to former chairperson Cyrus Mistry's plea by August 10 challenging the conversion of Tata Sons into a private company.
New Delhi (India), Aug 8 (ANI): The National Company Law Appellate Tribunal (NCLAT) has asked Tata Sons to file a reply to former chairperson Cyrus Mistry's plea by August 10 challenging the conversion of Tata Sons into a private company.
The NCLAT has listed the case for hearing next on August 14.
Last month, the National Company Law Tribunal's (NCLT) Mumbai bench had rejected former Mistry's petition against Tata Sons, which challenged his dismissal as chairman of the business conglomerate and also highlighted alleged operational mismanagement.
Mistry, through his investment firms-Cyrus Investments Pvt. Ltd and Sterling Investment Corp. Pvt. Ltd had filed a petition before the NCLT under Sections 241 and 242 of the Companies Act, which deal with oppression and mismanagement.
For those unversed, Mistry was removed as executive chairman of Tata Sons, on October 24, 2016, by its board, following shareholder upheaval. (ANI)
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