The Supreme Court on Friday agreed to hear a plea by ousted Tata group chairman Cyrus Mistry against a National Company Law Appellate Tribunal judgment of December. Mistry has sought more relief from the NCLAT saying the order did not do full justice.
The apex court bench comprising Justices A.S. Bopanna and Hrishikesh Roy ordered his plea to be tagged with the appeals filed by Ratan Tata and Tata Sons, which have also challenged the judgment.
On 18 December, the NCLAT held that the decision to remove Mistry as Tata Sons chairman was illegal, and he should be reinstated as the chairman and as director of three other group firms. The NCLAT also held that the appointment of a new chairman in his place was illegal.
The tribunal had refused to amend the Articles of Association (AoA), which were alleged to have been “misused” to undermine the Pallonji Group. As per Mistry, the NCLAT should have granted protection to the Pallonji Group against future prejudicial conduct. He said it was within the jurisdiction of the NCLAT to strike down the AoA. Mistry also said Shapoorji-Pallonji group should be given proportionate representation on the Tata Sons Board, as it is the single largest non-Tata shareholder with a 18.37% stake.
