[TATA v. Mistry] On what basis are they saying there is justification for winding up Tata Sons?: Harish Salve - LIVE UPDATES from Supreme court

The Supreme Court has started final hearings in the dispute between Tata Group’s holding company, Tata Sons Limited and Shapoorji Pallonji Groups’ Cyrus Mistry.

Both Tata Sons and Mistry have challenged a December 18, 2019 order of National Company Law Appellate Tribunal which had ordered the reinstatement of Cyrus Mistry as the Chairperson of Tata Sons Limited.

The Supreme Court had on January 10, 2020, stayed the NCLAT order. The NCLAT, in its December 2019 judgment, had held that the proceedings of the Board meeting of Tata Sons held on October 24, 2016, removing Cyrus Mistry as Chairperson was illegal.

It had also directed that Ratan Tata should not take any decision in advance which requires majority decision of the Board of Directors of Tata Sons or a majority in the Annual General Meeting.

Read an account of the hearing yesterday:

Live updates of the hearing today feature here.