Nclat Verdict

NCLAT decision inconsistent with corporate law; any shadow over management will put public interest in jeopardy: Tata petition

The Tata petition says that a serious error in law is the finding that Tata Sons continued as a 'Public Company' even after the change of law, and on that basis, coming to a further finding that the action of the Registrar of Companies (RoC), Mumbai, taking on record this change was illegal

Tata Sons moves Supreme Court against NCLAT verdict; challenges Cyrus Mistry's reinstatement as chairperson, director on board

The National Company Law Appellate Tribunal (NCLAT) on 18 December directed the conglomerate to reappoint Cyrus Mistry as chairman of Tata Sons and three group companies – TCS, Tata Industries and Tata Teleservices (Maharashtra)

Minority stakes count: Cyrus Mistry's NCLAT win in Tata Sons tussle is a significant precedent in refining shareholder democracy in India

The Tata-Mistry ruling should give a sobering message to promoter-driven companies that running a public company through a board involves procedures and practices that go beyond a simple majority-oriented approach