Canindia News

NCLAT rejects RoC plea to modify Tata-Mistry judgement

New Delhi, Jan 6 (IANS) The National Company Law Appellate Tribunal on Monday 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 December 18 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.

–IANS

rrb/adr/

YOU MAY ALSO BE INTERESTED IN

IIFL dealer, 5 others barred from securities market for front running

CanIndia New Wire Service

India can become AI laboratory of the world: NITI Aayog CEO

CanIndia New Wire Service

India needs to move beyond exporting raw materials: Goyal

CanIndia New Wire Service

Growth in data tariffs, broadband reach show move towards higher ARPU

CanIndia New Wire Service

Three pvt banks in TN, Kerala hit headlines for wrong reasons

CanIndia New Wire Service

Stimulus, healthy macros expected to lift markets (IANS Equity Outlook)

CanIndia New Wire Service

‘CIRP threshold against personal guarantors should be raised’

CanIndia New Wire Service

Unscathed: Pent-up demand more sustained, predictable now, says Kia India (IANS Special)

CanIndia New Wire Service

Accounts not performing due to delay won’t be labelled NPAs: Centre

CanIndia New Wire Service

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

SUBSCRIBE TO OUR WEEKLY NEWSLETTER

Stay up to date with the latest news and exclusive offers directly in your inbox