INSUBCONTINENT EXCLUSIVE:
Cyrus Mistry was sacked as chairman of Tata Sons, which is the holding company of Tata GroupThe Supreme Court on Tuesday deferred hearing in
Tata-Mistry case for Wednesday, December 9
Tata Sons and Cyrus Mistry Group have challenged a December 18, 2019, order of National Company Law Appellate Tribunal (NCLAT) that had
ordered the reinstatement of Cyrus Mistry as the Chairperson of Tata Sons Limited
The two conglomerates have been embroiled in a legal battle since 2016 when Cyrus Mistry, scion of the family that controls the SP Group,
SPG is selling its 18.37 per cent stakes in Tata Sons which are valued at Rs 1.75 lakh crore.Earlier, the top court had restricted Shapoorji
Pallonji Group from selling the shares of Tata Sons held by the group
But, Tata Sons had approved the selling of the shares within three months, according to the articles of association of the group.In the
The petition filed by Tata Sons wanted to stop this sale
However, SPG has accused the latter of creating unnecessary hurdles.Tata Sons counsel Harish Salve told the Supreme Court, "NCLAT can't take
it upon itself to overrule shareholders, make appointments by itself
Being private company, Trustees of Tata Trusts with a 68 per cent shareholding in Tata Sons would be within their rights to pack the board
