Apex court stays NCLAT order in Tata-Mistry case

New Delhi, January 24

The Supreme Court on Friday stayed the order of appellate tribunal NCLAT which had dismissed the plea filed by Registrar of Companies (RoC) seeking impleadment and modification of its last month’s verdict in the Tata-Mistry case.

In its January 6 order, the National Company Law Appellate Tribunal (NCLAT) had rejected RoC’s plea saying that no aspersions were cast on the Registrar in terming as illegal the decision to allow conversion of Tata Sons Pvt Ltd (TSPL) into a private company. Aggrieved by the order, TSPL filed a fresh appeal in the apex court claiming that the NCLAT, while dismissing RoC’s plea, had assigned “fresh and additional reasons” to support the conclusion reached by it in its last month’s verdict.

The NCLAT verdict of December 18, 2019, which had restored Cyrus Mistry as the executive chairman of the Tata Group, has already been stayed on January 10 by the SC which observed that there were “lacunae” in the orders. — PTI