NCLAT dismisses RoC plea to modify its judgement In Cyrus Mistry-Tata Sons case. Ratan Tata fights to secure his legacy as he petitions the Supreme Court.
Judgement Day: On December 18th 2019, the National Company Law Appellate Tribunal (NCLAT) passed a judgement reinstating Cyrus Mistry as the Executive Chairman of Tata Group. It also termed the conversion of Tata Sons from a public to a private company by the Registrar of Companies (RoC) as "illegal".
Now, the NCLAT has dismissed the RoC's petition seeking modification of this judgement, saying there is "no ground to amend" the same. Business Insider
Meanwhile: The Supreme Court, fresh out of its winter break, will soon hear pleas by Tata Sons and Ratan Tata to quash the same order that reinstated Mistry. The apex court's verdict could have implications on Tata's 21-year-long legacy as Chairman when the company embarked on major expansion, including snapping up Jaguar Land Rover and Corpus Group Plc. Mistry's moves to undo some of Tata's projects in order to trim debt drew the latter's ire, which eventually cost Mistry his job. NDTV Profit
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