Mistry Cos With­draw Clar­i­fi­ca­tion Plea

The Economic Times - - Companies: Pursuit Of Profit -

New Delhi: The Cyrus Mistry camp on Thurs­day with­drew its re­cent ap­pli­ca­tion with NCLAT seek­ing clar­i­fi­ca­tion on the fo­rum’s or­der that re­jected its plea for a stay on share­holder meet­ing called to re­move him from the Tata Sons board.

Cyrus In­vest­ments' ap­pli­ca­tion was listed be­fore the Na­tional Com­pany Law Ap­pel­late Tri­bunal (NCLAT) bench headed by its Chair­man Jus­tice S J Mukhopad­haya. How­ever, the coun­sel rep­re­sent­ing Mistry side with­drew the ap­pli­ca­tion. They sub­mit­ted that they do not want to pur­sue the mat­ter.

“It was just a pro­ce­dural ap­pli­ca­tion only. It was for some clar­i­fi­ca­tion and then the coun­sel de­cided among them­selves,” said one of the coun­sel in the know. On Fe­bru­ary 3, NCLAT had quashed a set of pe­ti­tions filed by the in­vest­ment firms seek­ing stay over the share­holder meet­ing called by Tata Sons for Cyrus Mistry's re­moval as a di­rec­tor.— PTI.

NCLAT had quashed pleas filed by Mistry cos seek­ing stay on Tata Sons meet­ing for Mistry's re­moval from board

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