SC to hear Tata Sons’ plea challenging NCLAT decision on Mistry on Friday

The Supreme Court will hear on January 10 the petition by Tata Sons Private Ltd (TSPL) challenging the NCLAT decision restoring Cyrus Mistry as executive chairman of the Tata Group.

The apex court website on Tuesday showed the plea to be listed before a three-judge bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant.

TSPL has challenged the December 18 decision of the National Company Law Appellate Tribunal (NCLAT) that gave a big relief to Cyrus Investment Pvt Ltd and Mistry, restoring him as the executive chairman of TSPL. The NCLAT also ruled that the appointment of N Chandrasekaran as head of the holding company of the USD 110-billion salt-to-software conglomerate was illegal. The Tatas have submitted that the verdict by the NCLAT “undermined corporate democracy” and the “rights” of its board of directors.