NCLT Re­serves Or­der on Mistry Firms’ Pleas

The Economic Times - - Brands & Companies -

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.


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