Tata vs Mistry: SC to hear Cyrus Mistry’s plea for Tata Sons board seat

The Supreme Court on Friday sought response from the Tata Group and Ratan Tata on the cross-appeal by Cyrus Mistry-run family firms seeking proportionate representation for the Shapoorji Pallonji (SP) Group on the Tata Sons board.

Mistry wants the SP group firms – Cyrus Investment Pvt Ltd and Sterling Investment Corporation – should be given proportionate representation on the Tata Sons board and all its committees, which allegedly was denied to his family group. He claimed that the Group owns 18.37% of equity share capital in Tata Sons whose stake is worth over Rs 1.5 lakh crore, thus making it the single largest non-Tata shareholder. Besides, he also sought that the affirmative votes in the hands of select Tata Sons directors should be struck down and directors of the Shapoorji Pallonji Group should be given similar powers.