Cyrus Mistry moves SC to expunge adverse remarks from March 2021 verdict

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Shapoorji Pallonji group head Cyrus Mistry has moved the Supreme Court seeking direction to expunge adverse remarks made against him in the judgment passed by the apex court in March last year, setting aside the NCLAT order, which restored him as Executive Chairman of the Tata conglomerate.

On Monday, senior advocate Janak Dwarkadas, representing Mistry, submitted before a bench headed by Chief Justice N.V. Ramana that his client has filed an application seeking to expunge certain remarks which affect his reputation and character. The bench, also comprising Justices A.S. Bopanna and Hima Kohli, said the court will hear the matter after 10 days.

Tata Sons was represented by senior advocates Harish N. Salve and A.M. Singhvi, along with a team of advocates from Karanjawala & Co.

Recently, a bench headed by Chief Justice Ramana and comprising Justices Bopanna and V. Ramasubramanian considered the review petition filed by Mistry. The top court, in its February 15 order, with which Justice Ramasubramanian dissented, said: “Applications seeking exemption from filing affidavits are allowed. Applications seeking oral hearing of the Review Petitions are allowed. List the Review Petitions on Wednesday, the 9th March, 2022.”

Justice Ramasubramanian, in his dissenting opinion, said: “With utmost respect, I regret my inability to agree with the order. I have carefully gone through the Review Petitions and I do not find any valid ground to review the judgment. The grounds raised in the Review Petitions do not fall within the parameters of a review and hence the applications seeking oral hearing deserve to be dismissed.”

In the verdict passed on March 26 last year, the top court said: “We find all the questions of law are liable to be answered in favour of the appellants (Tata Group) and the appeals filed by the Tata Group are liable to be allowed and Shapoorji Pallonji group is liable to be dismissed.” It also said the value of SP Group shares will depend on the valuation by Tata Sons equities and the court will not determine the fair value. In December 2019, the National Company Law Appellate Tribunal (NCLAT) had ruled that the proceedings of the Board meeting of Tata Sons held on October 24, 2016 removing Mistry as Chairperson was illegal.

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