Lawstreet Journal

SC Stays NCLAT Order Reinstating Cyrus Mistry As Executive Chairman Of Tata Sons

Lawstreet Journal 10 Jan 2020 6:31pm

Image courtesy: Lawstreet Journal Business SC Stays NCLAT Order Reinstating Cyrus Mistry As Executive Chairman Of Tata Sons

The Supreme Court today (January 10, 2020) stayed the order of NCLAT which had reinstated Crus Mistry as the Executive Chairman of Tata Sons. The Supreme Court said that there is a basic adjudication defect in the order of NCLAT reinstating Mistry as Executive Chairman. It said we are looking at the judicial attitude with which the NCLAT made the December 18, 2019 order and "find that it is sorely lacking".

The Tata-Mistry war has dragged on for long and has constantly been in the public eye. Prior to turning Tata Sons to a public company from a private one, the Registrar of Companies (RoC) will allow and take in to consideration for the apex court's hearing on the National Company Law Appellate Tribunal’s (NCLAT) judgment. The Supreme Court had previously announced that it would hear on January 10 Tata Sons’ plea against the NCLAT’s decision to restore Cyrus Mistry as chairman of Tata Sons and three group companies.

NCLAT had also deemed Tata Sons’ conversion to a private company from a public company 'illegal', and asked the RoC to reverse its decision.  RoC does not intend on taking legal action further after the NCLAT provided a clarification on January 6, 2020. The larger consensus within the ministry is to wait till the Supreme Court hears the matter on January 10, 2020. NCLAT had not accepted the RoC’s request for modification of the judgment.

After NCLAT's decision in December last year, Mistry said he will not go after chairmanship of Tata Sons, Tata… Continue Reading...

Tagged: Tata Institute of Social Sciences   Cyrus Mistry   NCLAT  
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