NCLT Reserves Order on Mistry Firms’ Pleas
The National Company Law Tribunal here on Monday reserved till March 6 its order on maintainability of the petitions filed by two companies owned by the family of Cyrus Mistry against his ouster from Tata Sons. As the arguments on the issue ended, the NCLT bench of BSV Prakash Kumar and V Nallasenapathy said it will pass the order on maintainability of petitions filed by Cyrus Mistry Investment and Sterling Investment Corporation on March 6. If the petitions are held maintainable, then further hearing would continue on March 7. The NCLT would then also hear an application filed by the two firms seeking waiver of certain requirements as to eligibility for filing a petition.