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  1. Cyrus Mistry’s counsel claims ‘abuse’ of position by Tata Trusts

Cyrus Mistry’s counsel claims ‘abuse’ of position by Tata Trusts

Citing several emails, he alleged that officials including the directors of Tata Sons and the Tata operating companies were acting under the diktat of the trusts and its trustees.

By: | Mumbai | Published: January 12, 2018 3:33 AM
Cyrus Mistry, Tata Trusts, Tata Sons, National Company Law Tribunal, NCLT Cyruds Mistry (Reuters)

Senior counsel Janak Dwarkadas, appearing for Cyrus Mistry, told the Mumbai bench of the National Company Law Tribunal (NCLT) that though the articles of association of Tata Sons were amended in 2012 and 2014 to confer various powers upon the Tata Trusts, “it was not immediately apparent that the Trusts would abuse their position to take over or exercise de facto control in the management and decision-making of respondent number 1 (Tata Sons) and the Tata operating companies”.

He added that this conduct on part of the trusts, which are not accountable as they are not the elected board of directors of Tata Sons became more frequent and intrusive about 2015 onwards. Citing several emails, he alleged that officials including the directors of Tata Sons and the Tata operating companies were acting under the diktat of the trusts and its trustees.

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