Tata vs Mistry: Shapoorji Pallonji Group files review petition in SC

Tata vs Mistry: Shapoorji Pallonji Group files review petition in SC
Share This :

knocked on doors of the on Sunday by filing a review petition before it and challenged the top court’s March 26 judgement in which it had ruled in favour of the Tata Group.

Notably, as per rules, the review petition is heard inside the chamber and before the same bench, which had passed the judgment in the case.

The in its judgement on March 26 had upheld the decision of the Tata Sons board in October 2016 to remove Cyrus Mistry — its then chairman — from office and later the company’s board and set aside National Company Law Appellate Tribunal’s (NCLAT) earlier order restoring Mistry’s appointment as executive chairman of the Tata group.

The SP group had moved National Company Law Tribunal over Mistry’s removal and alleging “oppression” of minority shareholders and “mismanagement”.

The top court had said that all the questions of law are liable to be favoured for the Tata group.

In its verdict, SC had said that “We leave it to Tata Sons, Cyrus Mistry to take any legal route to resolve issues of shares.”

The had dismissed pleas by Cyrus Investments and Sterling Investments.

The former CJI (Chief Justice of India) Sharad Arvind Bobde, led bench of the Apex Court, had passed the judgement on March 26.

“All the appeals filed by the Tata group against Cyrus Mistry are allowed”, the CJI Bobde had said in the judgement.

The other two judges in the bench of the top court, along with the former CJI Bobde, who had pronounced the judgement were– Justice AS and Justice V Ramasubramanian.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

, Tata vs Mistry: Shapoorji Pallonji Group files review petition in SC, Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link

Share This :