1. Cyrus Mistry firms file contempt petition against Tata Sons

Cyrus Mistry firms file contempt petition against Tata Sons

The report said that Cyrus Investments and Sterling Investments have filed 'wilful disobedience' case against Tata Sons on behalf of Cyrus Mistry.

By: | New Delhi | Published: January 11, 2017 8:19 PM
Tata, tata sons, cyrus mistry, National Companies Law Tribunal, tata companies, ratan tata The report said that Cyrus Investments and Sterling Investments have filed ‘wilful disobedience’ case against Tata Sons on behalf of Cyrus Mistry.(Reuters)

Two Shaporji Pallonji firms have filed a petition against Tata Sons alleging contempt earlier NCLT order, ET Now reported. The report said that Cyrus Investments and Sterling Investments have filed ‘wilful disobedience’ case against Tata Sons on behalf of Cyrus Mistry after latter called an EGM on February 6. Earlier, an order issued by NCLT had accepted caveat filed by Mistry’s firms in the ongoing tussle. The caveat technically barred Tata Sons to hold any further actions without prior information to NCLT.

Earlier, Tata Sons had said that it will contest allegations made by its ousted Chairman Cyrus Mistry against the holding company in petition filed by his investment companies at National Company Law Tribunal. “This afternoon Tata Sons Ltd was served with a petition under Sections 241 and 242 of the Companies Act before the National Company Law Tribunal (NCLT). We understand that the petition has been filed by investment companies of Mr. Cyrus Mistry,” the company said in a statement.

“Tata Sons is in consultation with its lawyers and will contest the allegations therein,” the company said further.
Claiming that it has “followed the highest standards of corporate governance in its operations”, Tata Sons said it viewed “the Petition as an unfortunate outcome of the situation arising from Mr Mistry’s complete disregard of the ethos of the Tata Group and Jamsetji Tata”.

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