Ratan Tata himself has said Tata Sons is not a family company but a board managed company: CA Sundaram for Shapoorji Pallonji [LIVE UPDATES]

The Supreme Court is hearing the dispute between Tata Group’s holding company, Tata Sons Limited and Shapoorji Pallonji Groups’ Cyrus Mistry.
Ratan Tata himself has said Tata Sons is not a family company but a board managed company: CA Sundaram for Shapoorji Pallonji [LIVE UPDATES]
Ratan Tata and Cyrus Mistry

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.

The hearing is proceeding before a Bench headed by Chief Justice SA Bobde. During yesterday's hearing, the CJI disclosed that his son has been representing a subsidiary company of Shapoorji Pallonji group for the last two years.

However, upon the counsel appearing in the matter responding that they have no objections to CJI Bobde continuing to hear the case, the same Bench is continuing with the final hearings.

Live updates of the hearing today feature here.

To read an account of Day 1, click here. To read more on the hearing on Day 2, click here, for the Day 3 hearing, click here and for Day 4, click here.

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