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Tata-Mistry Case: SC directs all parties to complete their pleadings within 4 weeks

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Today Supreme Court in Tata-Mistry Case directed all parties to complete their pleadings within four weeks.

The bench comprising Justice AS Bopanna and Justice Hrishikesh Roy was hearing the petition filed by Cyrus Investments Pvt Ltd seeking directorship in Tata Sons Ltd.

Dissatisfied with the NCLAT order Cyrus investments have approached the Supreme Court alleging misuse of Article 121 of Article of Association which  provides “a veto on every decision to be taken by the board of Tata Sons to trustee nominee directors as opposed to conventional affirmative rights provisions being available to the minority (shareholders) on select matters.”

Senior Counsel Aryama Sundarama appearing for Cyrus Investments Pvt. Ltd submitted that their grievance is that Article 121 was misused and the NCLAT made an error while dictating its order.

The bench said that since the appeal preferred by Tata sons is pending before Supreme Court, this matter needs to be tagged with that matter.

Senior Counsel Harish Salve appearing for Tata Sons prayed that the appeal from both sides be heard and disposed of quickly.

The bench however directed all the parties to complete their pleadings within a period of 4 weeks after which the appeal from both sides will be heard together.

India Legal Bureau

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