Page 9 - Tata Vs Mistry

Mistry camp: Appeal to NCLAT will be test case

Cyrus Investments Private Limited and Sterling Investment Corporation Private Limited - companies of Tata Son's ex-chairman Cyrus Mistry - began their appeal on Thursday against orders passed by the Mumbai bench of the National Company Law Tribunal (NCLT) dismissing the companys' pleas of oppression and mismanagement in Tata Sons Limited.Lawyer for the Mistry companies, senior advocate C A Sudaram began his arguments before the National Company Law Appellate Tribunal (NCLAT) by saying that the NCLT had erred on interpreting the provisions of the Companies Act, 2013 on oppression and mismanagement while dismissing their pleas on the grounds of maintainability. On March 6, the NCLT had come to conclusion that the Mistry petitions were not maintainable as they had failed to satisfy the requirement under Section 244 of the Companies Act since it had not initiated by one-tenth of the total amount of members (or issued share capital), when preference shareholders were taken into account. ...

Tribunal dismisses Mistry's allegations

NCLT has termed the petition filed as "proxy litigation" alleging mismanagement by the Tata group

Laws of English and English law trounce Irish Mistry at NCLT

In English law, shareholders can try on two remedies: derivative action and unfair prejudice claim

NCLT reserves order on waiver plea by Mistry family firms

The bench of B S V Prakash Kumar and V Nallasenapathy is likely to pass the order on Apr 17

Big setback for Mistry firms at NCLT

NCLT to hear the plea of Mistry's companies on Tuesday, on eligibility criteria

A curious deal, a dispute and a sacking

What seemed a sweetheart deal given to Sivasankaran might have triggered Mistry sacking

ICAI looking at alleged accounting irregularities at Tata companies

This, in the wake of concerns raised by ousted chairman Cyrus Mistry

NCLT begins hearing on maintainability of Mistry firms' pleas

The National Company Law Tribunal today began hearing on maintainability of petitions filed by two firms controlled by Cyrus Mistry's family against his ouster from Tata Sons, the holding company of Tata Group. Tata Sons opposed the petitions filed by Cyrus Mistry Investment and Sterling Investment Corporation, saying as per a Supreme Court order on Companies Act, the petitioners could not seek a relief against alleged violation of their rights as 'minority shareholders'. Mistry's counsel said the issue called for "fresh interpretation of provisions of the new Companies Act", and therefore the petitions were maintainable. Last December, the two Mistry firms challenged before NCLT Cyrus Mistry's unceremonious removal by Tata Sons as its chairman and also as a director of its board on October 24. The NCLT bench of BSV Prakash Kumar and V Nallasenapathy allowed both the parties to argue on the maintainability and waiver applications. The waiver plea by two Mistry firms seeks a ...

Tata Steel back in black, logs Q3 profit at Rs 231 crore

Consolidated gross sales increased to Rs 29,279 crore, from Rs 25,662.3 crore in the year-ago period

Tata Sons shareholders vote to remove Cyrus Mistry from board of directors

Bombay House EGM last in a series to oust Mistry from group

Appellate body rejects Mistry plea against Tata Sons' EGM

Lawyer argued Mistry had been oppressed and there was no genuine reason for him to be ousted

Cyrus Mistry moves against Tata Sons' EGM

Tata Sons' Board had ousted Mistry earlier on October 24, 2016

5% stake in 5 firms to cost Tatas Rs 12.5k crore

A year ago, Tata Sons could have bought this stake for Rs 8,000 crore

Tata-Mistry war: Sebi finds no fault in Ratan Tata's decision

No serious breach of the existing provisions has been found so far: Sebi

Tata Capital could take a hit of Rs 500-800 cr in 3 years: Cyrus Mistry

Provisioning coverage would increase substantially, Mistry said in his annexures to the NCLT petition

Tata group profits grew 35% under me, Mistry to NCLT

Mistry was responding to charges made by the Tatas that group was underperforming during his tenure

Sebi may bolster rules on removing company directors after Tata-Mistry spat

The spat has put spotlight on vulnerability of independent company directors in India

Sebi says no intervention in Tata-Mistry dispute

Regulator says boards are best decision makers on corporate governance

With Swan Energy, Tatas seek foothold in LNG infrastructure

The unit's cost is Rs 5,600 crore and Swan Energy is open to diluting its 74% stake in the project

Wadia complains to Sebi about Tata group's independent directors

Schraven, Robb, Srinivasan & Munjee have conflict of interests, says Wadia