Tata-Mistry Row: NCLAT Rejects Plea To Modify Verdict Terming Tata Sons’ Conversion To Private Firm Illegal

Tata-Mistry Row: NCLAT Rejects  Plea To Modify Verdict  Terming Tata Sons’ Conversion To Private Firm Illegal(Cyrus Mistry and Ratan Tata)

The National Company Law Appellate Tribunal (NCLAT) on Monday (6 January) rejected to the plea by the Registrar of Companies (RoC) to modify the appellate tribunal judgement in the Tata-Mistry case.

The NCLAT had in its 18 December verdict termed the RoC's decision to allow conversion of Tata Sons from public to private as illegal and RoC had filed a plea at the appellate tribunal to remove the word "illegal" from its verdict among other observations.

The two-judge bench headed by NCLAT Chairman Justice S J Mukhopadhaya observed that the judgment did not cast any aspersions on the RoC. The bench had reserved its order in the matter on Friday saying that it would clarify that its order terming RoC decision of allowing Tata Sons to convert from public to private as 'illegal' did not cast any aspersion on the RoC.

Mukhopadhaya said that the NCLAT can only clarify and not change the judgement, adding that the Supreme Court, being the highest judicial authority can change the judgement if it finds it incorrect.

NCLAT in its verdict had ordered the reinstatement of Cyrus Mistry as the Tata Sons' Chairman and also directed the RoC to enlist the company as a public company.

Tata Sons, however, has moved the Supreme Court against the judgement. In another major turn of events Cyrus Mistry on Sunday declared that he would not take up the chairmanship of the group or any other directorial post.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)