Source: Inhouse illustration
Source: Inhouse illustration

Remarks against Mistry: SC to hear CIPL's plea after 10 days

One-liner: The Supreme Court on Monday said it would hear after 10 days the plea of Cyrus Investment Pvt Ltd (CIPL) seeking expunction of certain remarks made against Cyrus Mistry in the 2021 verdict.

Order set aside: The top court on March 26, 2021, had set aside a National Company Law Appellate Tribunal (NCLAT)'s order which had restored Mistry as the executive chairman of the Tata Group.

Plea to expunge certain remarks: A bench headed by Chief Justice N V Ramana was told by counsel Janak Dwarkadas, appearing for CIPL and Mistry, this is an application for expunging certain remarks that affected the reputation of Mistry.

  • The apex court had also dismissed a plea of Shapoorji Pallonji Group seeking separation of ownership interests in Tata Sons Pvt Ltd (TSPL)

Succeeds Ratan Tata: Mistry had succeeded Ratan Tata as the chairman of TSPL in 2012 but was ousted four years later.

Violation of corporate governance: The SP Group had told the top court that Mistry's removal as the chairman of TSPL at a board meeting held in Oct 2016 was in complete violation of the principles of corporate governance.

Tata Group's defence: The Tata Group had vehemently opposed the allegations and denied any wrongdoing, saying the board was well within its right to remove Mistry as the chairman. 

Source: PTI

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