{"id":46795,"date":"2017-02-01T04:21:53","date_gmt":"2017-01-31T22:51:53","guid":{"rendered":"https:\/\/www.legalindia.com\/news\/?p=46795"},"modified":"2017-02-01T04:21:53","modified_gmt":"2017-01-31T22:51:53","slug":"nclt-clears-way-tata-sons-hold-egm-feb-6","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/news\/nclt-clears-way-tata-sons-hold-egm-feb-6","title":{"rendered":"NCLT clears way for Tata Sons to hold EGM on Feb 6"},"content":{"rendered":"
\"NCLT<\/a>
NCLT clears way for Tata Sons to hold EGM on Feb 6<\/figcaption><\/figure>\n

The National Company Law Tribunal (NCLT) today refused to grant a stay on the extraordinary general meeting (EGM) called by Tata Sons on February 6 to consider removal of Cyrus Mistry from the Board of Tata Group’s holding company.<\/p>\n

A Sundaram, counsel for Cyrus Mistry family companies, pressed for interim relief in contempt petition (against Tata Sons) which had sought a stay on EGM slated for February 6.<\/p>\n

“This issue was already decided in the last hearing when the contempt petition filed by two Mistry family companies was dismissed. There are no road blocks for Tata Sons to hold the EGM. It can go ahead with the forthcoming EGM,” said a division bench of NCLT comprising B S V Prasad Kumar (Member-Judicial) and V Nallasenapathy (Member-Technical).<\/p>\n

Lawyer for Mistry companies today sought adjournment and NCLT deferred the hearing till February 13.<\/p>\n

Outside the Tribunal, the counsel for Mistry companies said he would seek instructions from his client but the option to file an appeal against the Tribunal’s order passed today was under their consideration.<\/p>\n

The appeal can be filed by Mistry group companies either in the Appellate National Company Law Tribunal or in the Supreme Court, legal sources said.<\/p>\n

On January 18, NCLT had dismissed contempt plea filed by Mistry group companies alleging violation of NCLB directives in taking steps to remove Mistry from the Board of Tata Sons.<\/p>\n

However, while dismissing contempt plea, NCLT had allowed Mistry companies to file an affidavit on the issue of Tata Sons holding EGM on February 6.<\/p>\n

Accordingly the affidavit was filed and Mistry companies today pleaded for interim relief in the contempt petition seeking a stay on the EGM. But the Tribunal refused to grant a stay saying that the issue was decided in the last hearing when the contempt plea of Mistry companies was dismissed.<\/p>\n

NCLT, today, asked Mistry companies to argue on merits on their main petition challenging the removal of Cyrus Mistry as the Chairman of Tata Sons alleging bad practices, oppression and mismanagement in the holding company.<\/p>\n

However, Sundaram, Counsel for Mistry Companies, insisted that he would first argue on the maintainability of the petition and then on the merits.<\/p>\n

NCLT, however, expressed its displeasure over the lawyer’s stand, saying that he was not cooperating with the proceedings in the case. The bench, however, has given a last chance to him to argue on merits of the petition on next occasion, February 13, or else it would dismiss it.<\/p>\n

( Source – PTI )<\/p>\n","protected":false},"excerpt":{"rendered":"

The National Company Law Tribunal (NCLT) today refused to grant a stay on the extraordinary general meeting (EGM) called by Tata Sons on February 6 to consider removal of Cyrus Mistry from the Board of Tata Group’s holding company. A Sundaram, counsel for Cyrus Mistry family companies, pressed for interim relief in contempt petition (against […]<\/p>\n","protected":false},"author":1,"featured_media":44208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[38611,146,8116,38608,38610,31987,117,80,38609,38607,34686],"class_list":["post-46795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-law-news","tag-board-of-tata-group","tag-court","tag-cyrus-mistry","tag-egm","tag-extraordinary-general-meeting","tag-featured","tag-law","tag-legal-news","tag-national-company-law-tribunal","tag-nclt","tag-tata-sons"],"yoast_head":"\nNCLT clears way for Tata Sons to hold EGM on Feb 6 - Legal News India - Supreme Court & High Court Updates<\/title>\n<meta name=\"description\" content=\"The National Company Law Tribunal (NCLT) today refused to grant a stay on the extraordinary general meeting (EGM) called by Tata Sons on February 6 to - Get the latest legal news from the Supreme Court, High Courts, and government. 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An NCLT bench of B S V Prakash Kumar and V Nallasenapathy said, \"The waiver is dismissed, the\u2026","rel":"","context":"In "Top Law News"","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"NCLT dismisses Mistry firms' petition against Tata Sons","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/08\/Law-300x200.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":45445,"url":"https:\/\/www.legalindia.com\/news\/cyrus-mistry-challenge-tata-sons-decision-remove-chairman-bombay-high-court","url_meta":{"origin":46795,"position":1},"title":"Cyrus Mistry to challenge Tata Sons decision to remove him as chairman in Bombay high court","author":"Legal India Admin","date":"October 25, 2016","format":false,"excerpt":"Cyrus Mistry has decided to move Bombay High Court against Tata Sons' decision to remove him from Chairman's post+ . In a surprise development on Monday evening, Cyrus Mistry+ was sacked as chairman of Tata Sons. He was replaced by Ratan Tata. The decision was taken at the board meeting\u2026","rel":"","context":"In "Top Law News"","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"Cyrus Mistry","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2016\/10\/Cyrus-Mistry.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":51839,"url":"https:\/\/www.legalindia.com\/news\/hc-refuses-stay-sessions-court-order-quashing-summons-tata-group-chairman-cyrus-mistry","url_meta":{"origin":46795,"position":2},"title":"HC refuses to stay sessions court order quashing summons to Tata Group chairman Cyrus Mistry","author":"Legal India Admin","date":"March 8, 2018","format":false,"excerpt":"In some reprieve for ousted Tata Group chairman Cyrus Mistry, the Bombay High Court today refused to stay a sessions court order quashing a summons issued to him in a Rs 500-crore defamation suit. Justice N W Sambre admitted for further hearing a petition filed by Tata Group's managing trustee\u2026","rel":"","context":"In "High Profile Cases"","block_context":{"text":"High Profile Cases","link":"https:\/\/www.legalindia.com\/news\/category\/high-profile-cases"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2018\/03\/Cyrus-Mistry.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":56846,"url":"https:\/\/www.legalindia.com\/news\/high-court-quashes-defamation-proceedings-against-ratan-tata-others","url_meta":{"origin":46795,"position":3},"title":"High Court quashes defamation proceedings against Ratan Tata, others","author":"Legal India Admin","date":"July 22, 2019","format":false,"excerpt":"The Bombay High Court on Monday quashed proceedings initiated by a local court against Tata Sons' former chairman Ratan Tata, its current chairman N Chandrasekaran and eight directors of the firm in a criminal defamation case filed by Nusli Wadia. In December 2018, a magistrate court in the city issued\u2026","rel":"","context":"In "Court, Judiciary & Legal System"","block_context":{"text":"Court, Judiciary & Legal System","link":"https:\/\/www.legalindia.com\/news\/category\/court-judiciary-legal-system"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/06\/download-2019-06-13T083533.716.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":51006,"url":"https:\/\/www.legalindia.com\/news\/defamation-complaint-court-sets-aside-summons-cyrus-mistry","url_meta":{"origin":46795,"position":4},"title":"Defamation complaint: Court sets aside summons to Cyrus Mistry","author":"Legal India Admin","date":"December 27, 2017","format":false,"excerpt":"\u00a0A Mumbai sessions court today quashed and set aside summons issued by a magistrate's court to ousted Tata Group chairman Cyrus Mistry and others in connection with a Rs 500 crore defamation complaint filed by Tata Trusts' R Venkatramanan. Mistry and the other accused had approached the sessions court after\u2026","rel":"","context":"In "Top Law News"","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2017\/12\/Cyrus-Mistry.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":55739,"url":"https:\/\/www.legalindia.com\/news\/the-bombay-high-court-stays-nusli-wadia-defamation-plea-hearing-against-ratan-tata-some-other-directors-of-tata-sons","url_meta":{"origin":46795,"position":5},"title":"The Bombay High Court stays Nusli Wadia defamation plea hearing against Ratan Tata some other directors of Tata Sons.","author":"Legal India Admin","date":"March 19, 2019","format":false,"excerpt":"The Bombay High Court Monday stayed till March 27 the proceedings before a magistrate court in a 2016 criminal defamation case filed by Nusli Wadia against Ratan Tata and some other directors of Tata Sons. A single bench of Justice Mridula Bhatkar stayed the proceedings through an interim order. Justice\u2026","rel":"","context":"In "Top Law News"","block_context":{"text":"Top Law News","link":"https:\/\/www.legalindia.com\/news\/category\/top-law-news"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.legalindia.com\/news\/wp-content\/uploads\/sites\/2\/2019\/03\/bhc.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"jetpack_shortlink":"https:\/\/wp.me\/p6H5Bf-caL","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/46795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/comments?post=46795"}],"version-history":[{"count":0,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/posts\/46795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media\/44208"}],"wp:attachment":[{"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/media?parent=46795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/categories?post=46795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.legalindia.com\/news\/wp-json\/wp\/v2\/tags?post=46795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}