Tata vs Mistry case: Supreme Court to hear Tata Sons' petition on January 10
Tata Sons had moved the Supreme Court challenging the NCLAT order that reinstated Cyrus Mistry as chairman, saying the verdict "undermined corporate democracy" and the "rights" of its board of directors
- Jan 6, 2020,
- Updated Jan 6, 2020 7:37 PM IST
The Supreme Court of India (SC) will hear a petition filed by Tata Sons seeking a stay on the National Company Law Appellate Tribunal's (NCLAT) judgment that reinstated Cyrus Mistry as chairman on January 10. The petition was mentioned before the Chief Justice today after the court reopened following the winter vacation.
Last week, Tata Sons had moved the Supreme Court challenging the NCLAT order, saying the verdict "undermined corporate democracy" and the "rights" of its board of directors.
"Restoring Cyrus Mistry to the position as Chairman has undermined corporate democracy and the rights of the board of directors," Tata Sons said in its filing.
"The NCLAT has, in one stroke of the pen, pulled down the governance and corporate structure of the appellant (Tata Sons) so painstakingly put together by its founders, in the spirit of trusteeship and responsibility, in the course of last one century," it said.
The Supreme Court of India (SC) will hear a petition filed by Tata Sons seeking a stay on the National Company Law Appellate Tribunal's (NCLAT) judgment that reinstated Cyrus Mistry as chairman on January 10. The petition was mentioned before the Chief Justice today after the court reopened following the winter vacation.
Last week, Tata Sons had moved the Supreme Court challenging the NCLAT order, saying the verdict "undermined corporate democracy" and the "rights" of its board of directors.
"Restoring Cyrus Mistry to the position as Chairman has undermined corporate democracy and the rights of the board of directors," Tata Sons said in its filing.
"The NCLAT has, in one stroke of the pen, pulled down the governance and corporate structure of the appellant (Tata Sons) so painstakingly put together by its founders, in the spirit of trusteeship and responsibility, in the course of last one century," it said.