NCLT order in Tata-Mistry case after June 12

By: | Published: May 3, 2018 3:27 AM

The Mumbai-bench of National Company Law Tribunal (NCLT) on Wednesday informed the Tata and Mistry factions that the order in the case filed by Mistry and his companies alleging mismanagement and oppression of minority shareholders in Tata Sons will be pronounced post June 12.

tata, cyrus mistry, tata mistryThe case was taken up by NCLT to be heard in November 2017, however, the matter was heard continuously from January 8 this year.

The Mumbai-bench of National Company Law Tribunal (NCLT) on Wednesday informed the Tata and Mistry factions that the order in the case filed by Mistry and his companies alleging mismanagement and oppression of minority shareholders in Tata Sons will be pronounced post June 12. Arguments from Cyrus Mistry and Tata Sons in the matter had concluded in the Mumbai-bench of NCLT on February 2, after marathon hearings of 25 days, post which the matter has been reserved for orders. The case was taken up by NCLT to be heard in November 2017, however, the matter was heard continuously from January 8 this year.

Both Mistrys and Tatas have been locked in a bitter court battle, with Mistry seeking a representation on the board of Tata Sons, apart from appealing for some amendments to the Articles of Association of Tata Sons, which he alleges are oppressive to the interests of the minority shareholders.

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