NCLAT reserves order on RoC plea in Tata-Mistry case

The National Company Law Appellate Tribunal (NCLAT) on Friday reserved its order on the plea filed by the Registrar of Companies (RoC) seeking modifications in the judgement in which Cyrus Mistry was reinstated as the executive chairman of Tata Sons.

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A two-member bench headed by Chairman Justice S J Mukhopadhaya indicated that its order is likely to come on Monday next week. During the proceedings, the Ministry of Corporate Affairs said that it was discharging its duty and has not committed any illegality in conversion of Tata Sons from public company to a private company.

On Thursday, NCLAT had asked clarification specifics of paid-up capital requirement for the same. NCLAT, on December 18, directed the USD 110-billion Tata group to reinstate Cyrus Mistry as the executive chairman of Tata Sons. Tata Sons has on Thursday moved Supreme court against its order passed on December 18.

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