Stock Analysis, IPO, Mutual Funds, Bonds & More

Tata-Mistry: SC stays NCLAT order dismissing RoC plea seeking modification of verdict

A bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant agreed to hear Tata Sons Pvt Ltd's appeal and issued notice to the parties concerned.

, ET Bureau|
Last Updated: Jan 25, 2020, 08.07 AM IST
Thumb (48)
The Supreme Court on Friday stayed a National Company Law Appellate Tribunal (NCLAT) decision refusing to modify an earlier judgement, which contained certain adverse references to the conduct of the Registrar of Companies (RoC) and Tata Sons.

The NCLAT on January 6 dismissed the RoC’s petition seeking modification of the December 18 order that asked a reversal of Tata Sons’ status from privately held to a public limited company. But the appellate tribunal clarified that its judgement had neither cast any aspersions on the RoC nor ascribed any mala fide intention to it, and referred only to the actions of the company and its board.

Tata Sons then approached the top court.

A three-judge bench led by Chief Justice SA Bobde on Friday also issued notices to former Tata Sons chairman Cyrus Mistry’s Cyrus Investments, which had challenged the conversion of the company’s status. The bench will address the issue in two weeks by when all the parties in the case need to make their formal legal submissions.

The RoC had moved the NCLAT seeking to have words such as “illegal” and “with the help of the ROC” removed from its order.

Tata Sons’ stay and impleadment applications were filed by Karanjawala & Co. Senior advocate Abhishek Manu Singhvi appeared for the company.

Also Read

SC to pronounce on Thursday its verdict on pleas seeking review of Sabarimala verdict

No stay on 2018 Sabarimala verdict

SC verdict on Belgaum dispute will be acceptable to all: Raut

Bharti Infratel awaits SC verdict on AGR for merger with Indus Towers

View: Ayodhya verdict bolsters democracy

Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links

Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service