Questions raised over RoC stance on Mistry

Mumbai, November 13

The Ministry of Corporate Affair’s western region director had raised questions on some of the grounds Registrar of Companies (RoC) used to declare that the sacking of Cyrus P Mistry as chairman and director of Tata Sons and Tata Consultancy Services (TCS) violated the Companies Act and RBI rules, according to an RTI reply.

In response to a Right to Information (RTI) query filed by Shapoorji Pallonji Mistry Group, which is the single largest shareholder of Tata Sons with 18.4% shareholding, the Ministry of Corporate Affairs last month furnished two letters — a January 25, 2017 letter of the RoC, Mumbai and a February 17, 2017 letter from the Office of the Regional Director, Western Region of the ministry.

Responding to the observation of RoC, Mumbai on the procedural aspects like documents submitted or the signing authority, in removing Mistry as chairman and director of TCS, the Regional Director, Western Region, Ministry of Company Affairs — the senior reporting authority, raised doubts on the efficacy of the findings. — PTI