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Tatas vs Cyrus Mistry : SC Issues Notice On Plea Against NCLAT Observations On Registrar Of Companies

Mehal Jain
24 Jan 2020 8:54 AM GMT
Tatas vs Cyrus Mistry : SC Issues Notice On Plea Against NCLAT Observations On Registrar Of Companies

The Supreme Court on Friday issued notice on Tata Sons's plea against the NCLAT's January 6 order declining the Registrar of Companies' request for modification of its judgement in the Cyrus Mistry-Tata Sons dispute.

A plea was moved by the Registrar of Companies in Mumbai seeking removal of certain adverse observations in the December 18 judgment which ordered the reinstatement of Cyrus Mistry as Executive Chairman of Tata Sons Ltd. Moved under sections 420(2) and 424(1) of the Companies Act, read along with Rule 11 of NCLAT Rules, 2016, the application sought amendment in paragraphs 166-187 of the judgment. The remarks of NCLAT were made in the context of its conclusion that the conversion of Tata Sons as a "private company" was illegal.

As per the Registrar, the said paragraphs record observations which are against the actions of the RoC Mumbai, carried out in pursuance of its statutory duties.

The bench headed by Chief Justice S. A. Bobde said on Friday that it shall hear the said plea along with Tata Sons' main appeal against the NCLAT decision favoring Mistry.

In a temporary relief to Tata Sons Pvt Ltd, the Supreme Court had on January 9 stayed the December 18 order of the National Company Law Appellate Tribunal which reinstated Cyrus Mistry as the Executive Chairman of the company.

The bench comprising CJ Bobde, Justices Surya Kant and BR Gavai issued notice to Mistry in the appeal filed by Tata Sons Pvt Ltd.

Tata side gives assurance in court that they do not propose to take any steps invoking powers under Article 75 of the Articles of Association against the minority shareholders of Shapoorji Pallonji group.

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