Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • Charlie Kirk shot dead
  • Nepal protests
  • Russia-Poland tension
  • Israeli strikes in Qatar
  • Larry Ellison
  • Apple event
  • Sunjay Kapur inheritance row
fp-logo
NCLAT asks Cyrus Mistry camp to submit specific changes it wants in Tata Sons Articles of Association
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit

NCLAT asks Cyrus Mistry camp to submit specific changes it wants in Tata Sons Articles of Association

Press Trust of India • October 31, 2018, 19:40:49 IST
Whatsapp Facebook Twitter

Cyrus Mistry in his pleas primarily argued that his removal was not in accordance with the Companies Act and that there was rampant mismanagement of affairs across Tata Sons.

Advertisement
Subscribe Join Us
Choose
Firstpost on Google
Choose
Firstpost on Google
NCLAT asks Cyrus Mistry camp to submit specific changes it wants in Tata Sons Articles of Association

New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Wednesday directed the Cyrus Mistry camp to submit specific changes it wants in the Articles of Association (AoA) of Tata Sons. A two-member bench headed by Justice S J Mukhopadhaya asked the Mistry camp to file within two days the changes it was seeking in the AoA. [caption id=“attachment_4248879” align=“alignleft” width=“380”] ![File image of Cyrus Mistry. Reuters.](https://images.firstpost.com/wp-content/uploads/2017/12/Cyrus-Mistry_Reuters_New_380.jpg) File image of Cyrus Mistry. Reuters.[/caption] Mistry, who was sacked as Chairman of Tata Sons in 2016, is fighting against the company alleging oppression of minority shareholder. The bench has also directed Tata Sons and others to file reply within two weeks and posted the matter on 11, 12 and 13 December for next hearing. During the proceedings, senior advocate C A Sundaram appearing for the Mistry camp said that he was fighting for the future of the company (Tata Sons) and was seeking relief in the interest of the company. “There are acts of mismanagement and oppression and I am not going open that today. I want to look into future,” he said. Sundaram insisted that he wanted a directorship in Tata Sons as they hold 18 percent shares of the company. The appellate tribunal was hearing a batch of petitions filed by ousted Tata group Chairman Cyrus Mistry and two investment firms supporting him. The Mistry camp had challenged the 9 July order of the Mumbai bench of the NCLT which dismissed their pleas against his removal as Tata Sons chairman, as also the allegations of rampant misconduct on part of Ratan Tata and the company’s board. A special bench of the tribunal had held that the board of directors at Tata Sons was “competent” to remove the executive chairperson of the company. The NCLT bench had also said that Mistry was ousted as chairman because the Tata Sons’ Board and its majority shareholders had “lost confidence in him”.

Under the Companies Act 2013, an order of NCLT can be challenged before the National Company Law Appellate Tribunal (NCLAT). Mistry, who was the sixth chairman of Tata Sons, was ousted from the position in October 2016.

He had taken over as the chairman in 2012 after Ratan Tata announced his retirement. Two months after his removal, Mistry’s family-run firms Cyrus Investments Pvt Ltd and Sterling Investments Corp approached the NCLT as minority shareholders, against Tata Sons, Ratan Tata, and some other board members. Mistry in his pleas primarily argued that his removal was not in accordance with the Companies Act and that there was rampant mismanagement of affairs across Tata Sons. He also alleged that Tata Trust chairperson Ratan Tata and trustee N Soonawala interfered with the day-to-day operations of the group companies, they acted as shadow directors, and all of the above caused massive revenue loss for the group.

Tags
Ratan Tata Tata Sons Cyrus Mistry Shapoorji Pallonji Companies Act NCLT tata sons board NCLAT N Soonawala Sterling Investments Corp minority shareholder
  • Home
  • Business
  • NCLAT asks Cyrus Mistry camp to submit specific changes it wants in Tata Sons Articles of Association
End of Article
Latest News
Find us on YouTube
Subscribe
  • Home
  • Business
  • NCLAT asks Cyrus Mistry camp to submit specific changes it wants in Tata Sons Articles of Association
End of Article

Impact Shorts

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions

Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.

More Impact Shorts

Top Stories

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US ready to ‘impose costs’ on Russia if war in Ukraine drags on, says Hegseth

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

US tells Hamas to stop violence against Gaza civilians and disarm 'without delay'

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

China seizes 60,000 maps mislabelling Taiwan, omitting South China Sea islands

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

Syria’s Sharaa pledges to honor Russia ties, seeks economic and military support in Kremlin visit

Top Shows

Vantage Firstpost America Firstpost Africa First Sports
Enjoying the news?

Get the latest stories delivered straight to your inbox.

Subscribe
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV