Mumbai: A Mumbai magistrate’s court on Tuesday admitted a Rs500 crore criminal defamation suit, filed by R. Venkataramanan, a trustee at Tata Trusts, against ousted Tata Sons Ltd chairman Cyrus Mistry and his family investment firms. The allegations pertained to some transactions at AirAsia India, Tata Sons’ joint venture with AirAsia Bhd. Following his removal, Mistry and his family firms challenged his ouster at the National Company Law Tribunal (NCLT). On 17 April, NCLT dismissed the main petition filed by Mistry and his family firms alleging mismanagement and oppression of minority shareholders. Subsequently, the Mistry family firms moved the National Company Law Appellate Tribunal (NCLAT) against NCLT’s decision.

Source: Mint July 04, 2017 15:56 UTC