Mumbai: Tata Sons Ltd on Thursday moved the apex court against the re-instatement of Cyrus Mistry as executive Chairman and also against his immediate re-instatement as director of the Tata Sons and three group companies - Tata Consultancy Services Ltd (TCS), Tata Industries Ltd and Tata Teleservices (Maharashtra) Ltd. The NCLAT will also hear Registrar of Companies (RoC) review petition today against the appellate ruling which had termed Tata Sons conversion from public to private as illegal. The change in status, undertaken in September 2017, would have required Mistry’s family firms to seek approval from the Tata Sons board to sell their shares. Ltd own 18.4% of ordinary shares in Tata Sons. Mistry was removed as chairman of Tata Sons in a surprise move on 24 October 2016.

Source: Mint January 02, 2020 06:00 UTC