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18
January 2017
The
National Company Law Tribunal (NCLT) has dismissed a contempt petition filed by
family firms of Cyrus P Mistry against Tata Sons. However, the Tribunal has
allowed Mr Mistry to file an affidavit within three days challenging the 6th
February extraordinary general meeting (EGM) called by Tata Sons. After Mr
Mistry files his affidavit, Tata Sons is allowed to file rejoinder in next
three days. The Total Investment & Insurance
Solutions
Earlier,
Tata Sons was served with a petition filed before the NCLT by Mr Mistry's
investment companies under Sections 241 and 242 of the Companies Act. On its
part, Tata Sons also served legal notice to Mr Mistry, alleging breach of
confidentiality and passing on sensitive information to his family-controlled
companies. The Total Investment & Insurance
Solutions
The
development comes a few days after Mr Mistry stepped down from positions held
by him in Tata Group companies which have called extra-ordinary general
meetings (EGMs) to remove him from their respective Boards. The Total Investment & Insurance Solutions
Tata
Sons' board had ousted Mr Mistry on 24 October 2016 and had appointed Ratan
Tata as interim Chairman. A few days ago, Tata Sons had appointed N
Chandrasekaran as Chairman of Tata Sons.The
Total Investment & Insurance Solutions
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