NCLAT to hear Cyrus Mistry’s pleas on maintainability

The National Company Law Appellate Tribunal will hear on May 4 the maintainability of ousted Tata Group chairman Cyrus Mistry's petition, alleging "mismanagement and oppression of minority" at Tata Sons, along with waiver of shareholding requirement rules. During the hearing on Thursday, counsel representing the Mistry camp informed NCLAT they will file another appeal against the order of the National Company Law Tribunal (NCLT) rejecting their waiver application on April 17. The counsel representing two firms — Cyrus Investment Pvt Ltd and Sterling Investments Pvt Ltd — informed they were in the process of doing so, following which the NCLAT bench headed by S J Mukhopadhyay adjourned the matter to May 4.