National Company Law Tribunal holds Cyrus Mistry’s competition petition non viable
Monday, March 6, 2017 IST
National Company Law Tribunal holds Cyrus Mistry’s competition petition non viable
Mumbai: The National Company Law Tribunal has held that petitions recorded by Cyrus Mistry's organizations are non viable.
Mistry's organizations — Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd — had claimed mistreatment of minority shareholder rights and botch at the Tata Group in the fundamental appeal.
The subject of practicality was a vital issue as Tata Sons had contended that the fundamental appeal to documented on December 20 is not viable as Mistry's family firms claimed just 2.17% shares of the aggregate share capital (value + inclination shares) of Tata Sons.
As indicated by law, they contended, shareholder needs no less than 10% to record an appeal to in the NCLT. Mistry's attorneys had looked for a waiver from the rule.The falter application will be chosen by NCT on Tuesday.
Purportedly, Mistry's lawayer needed NCLT to clear its position on the practicality of the case before beginning his contentions on the principle request of so he could bid against any unfavorable choice.
Related Topics
Related News & Articles
Refuting Cyrus Mistry's assertions of "breakdown" in the administration of trusts overseeing Tata Sons, the gathering holding firm said on Monday the ...
Recently posted . 555 views . 42 min read
You surely would have come across drone footage with picturesque and breathtaking imagery, tempting you to start collecting funds for a drone for your ownself. Ho...
Recently posted . 454 views . 2 min read
In a video that is going viral on social media, a Delhi policeman can be seen holding up a mirror to show them the 'real danger' - for travelling without ...
Recently posted . 575 views . 2 min read
Agitated parents of students who were allegedly locked inside the school basement over a fee dispute, on Tuesday cried foul. The parents told ANI, that it was inhum...
Recently posted . 484 views . 2 min read
An appeal to has been filled in the Supreme Court to fill around 5,000 empty MBBS and BDS situates the nation over relating to the scholarly session 2016-17.
<...
Recently posted . 468 views . 5 min read
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 8K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
According to experts, several hill stations and metro cities could face a similar crisis within a decade and the warning signs may start showing in the next three o...
Recently posted. 496 views . 1 min read
With the situation now on a knife's edge, here's what the momentous decision will mean for the restive state.
Recently posted. 452 views . 1 min read
New Delhi: The Supreme Court on Monday questioned the practice of female genital mutilation of minor girls in the Dawoodi Bohra Muslim community, s...
Recently posted. 465 views . 1 min read
Recently posted . 959 views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views . 35 min read
Recently posted . 1K views . 126 min read
The disappearance of 'Netaji' Subhash Chandra Bose has remained one of the biggest mysteries of modern India. While conventional notion tells us that Neta...
Recently posted. 702 views . 2 min read
“We got into the service thinking that we can provide voice to people, but then we ended up with our own voice being taken away from us,” said the Keral...
Recently posted. 500 views . 1 min read