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

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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.
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