News By/Courtesy: Anusha G Rao | 10 Jan 2019 21:43pm IST

HIGHLIGHTS

  • It was informed before the National Company Law Appellate Tribunal (NCLAT) that Cyrus Mistry, the former chairman of Tata Sons was removed without prior notice or intimation
  • Senior lawyer C.A Sundaram informed the NCLAT that the removal was not even on the agenda item of the board meeting of October 26, 2016, when he was sacked.
  • It is also said that Mistry was removed as a director from all Tata Sons Group of companies, as trustees had written to all companies that if Mistry is not removed, they'd take away Tata brand name

It was informed before the National Company Law Appellate Tribunal (NCLAT) that Cyrus Mistry, the former chairman of Tata Sons was removed without prior notice or intimation by the two investment firms promoted by the Mistry family. 

Senior lawyer C.A Sundaram informed the NCLAT that the removal was not even on the agenda item of the board meeting of October 26, 2016, when he was sacked. The removal surprisingly came under the ‘any other item’ of the meeting. Sundaram questioned the Mumbai NCLT order, saying that the latter treated Mistry’s removal as ‘nature of employment dispute’.

It is also said that Mistry was removed as a director from all Tata Sons Group of companies, as the trustees had written to all companies that if Mistry is not removed, they would take away Tata brand name. Sundaram concluded that Mistry is the best man to protect the rights of minority shareholders.

Mistry has also moved to the court against his removal in personal capacity. He has challenged Mumbai’s NCLT order of dismissal of petition against removal and rampant misconduct on part of Ratan Tata and group. The Tata group represented by senior advocates Harish Salve and Abhishek Manu Singhvi

 

Section Editor: Shreyashi Tiwari | 10 Jan 2019 21:46pm IST


Tags : #Cyrus #Mistry #Removed#Without #Intimation #NCLAT

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