The Supreme Court will reportedly hear the final arguments on cross-appeals filed in the case of alleged mismanagement and oppression of minority shareholders at Tata Sons Ltd. on December 8. The apex court had deferred the hearing in the matter on Wednesday as parties to the case filed new applications.
In December 2019, the National Company Appellate Law Tribunal had passed the order restoring Mistry as Executive Chairman and held the appointment of Natarajan Chandrasekaran to the post as illegal. On January 10, the apex court had stayed the NCLAT order. Chief Justice SA Bobde said, “We kept the case for final hearing, but everyone kept filing applications, we also want to enjoy vacations as you do.”
A statement read, “The Tata group would go to any lengths to prejudice the rights of the SP group, its interest would not be protected. As part of the separation proposal for selling its ?1.5 trillion stakes in Tata Sons, the SP group suggested a share swap. Instead of Tata group shelling out this large sum in one go, the SP group sought that it should be given shares of Tata group’s listed companies.”
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