Tata Sons v Cyrus Mistry : Live Updates From Supreme Court Hearing - Day 3

Tata Sons is really controlling all these companies, says Sundaram.

The board of #Tatasons takes decision on what direction the group companies should take, says Sundaram

Relationship goes back 70 years. The main issue is that the business was being run in a manner which was prejudicial not just to minority shareholders but to the company itself, Sundaram says.

Bench re-assembles.

Senior Advocate CA Sundaram appearing for Cyrus investments and Sterling Investments, begins arguments.

The bench will hear further arguments at 2 PM.

This reminds of when I asked Mr. Jethmalani why he was never offered a Judgeship. He said I was My Lords by Justice Kathawalla but I took time and came back to tell him "I don't think i am respectable enough to be a judge" - CJI says

He meant it in so many different ways! Salve

My learned brother thinks you are avoiding mentioning your name, CJI says to Salve

That is exactly why I took the word "eminent" out of mentioning who constituted the Arbitral Tribunal! says Salve

Mr. Ratan Tata made it clear that the law supersedes all, says Salve.

Arbitral Tribunal was constituted with Lord Hoffman, he adds.

Again Lord Hoffman? CJI says

Yes, he's had some connection with this, says Salve

Allegations for misconduct are primarily related to downstream companies not Tata, says Salve

Salve is referring to the Resolution of 18th December 2012.

"If you want throw me out, pay me the money. You cannot use my money and throw me out," said Salve

Nominees directors have to vote in favour and they are nominee directors, they are representing the trust of which RN Tata is the Chairman, whats so wrong in that? says Salve

Its not that, they say he was demanding, says CJI