Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Supreme Court stays NCLAT order on Cyrus Mistry

PTI
Updated: January 10th, 2020, 12:16 IST
in Business, Top Stories
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: The Supreme Court stayed Friday the National Company Law Appellate Tribunal (NCLAT) order restoring Cyrus Mistry as executive chairman of the Tata Group, observing that there were ‘lacunae’ in the orders passed by the Tribunal.

A bench of Chief Justice SA Bobde and Justices BR Gavai and Surya Kant said the National Company Law Appellate Tribunal (NCLAT) decision suffers from ‘basic errors and we have to hear the matter in detail’.

Also Read

Students drop out

No safe route: 11 girl students drop out over wild animal fears

4 hours ago
Olive Ridley

Olive Ridley surveillance hit

4 hours ago

The bench also said, “You (Cyrus) have been out of the saddle quite a long time. Does this hurt you….How does it hurt you today.”

The bench said there was no prayer in the petition for reinstatement of Mistry but the tribunal went ahead with it and ordered his reinstatement. “We find there are lacunae in the judicial orders passed by the NCLAT,” the bench said issuing notices to Mistry and others.

Tata Sons Private Ltd (TSPL) challenged the December 18 decision of NCLAT that gave a big relief to Cyrus Investment Pvt Ltd and Mistry, restoring him as the executive chairman of TSPL.

The bench issued notices to Cyrus Investment Pvt Ltd, Mistry and others and posted the matter after four weeks.

The top court also ordered that the Tatas will not exercise power under Article 75 of the Company Law for pushing out shares of minority holders in the company.

Senior advocate CA Sundaram, appearing for the company Cyrus Investment Pvt Ltd, submitted that instead of staying the NCLAT order, notice should be issued and two weeks be given for filing the reply.

However, the bench said, “Our first impression is not good about the order of the tribunal. The tribunal granted the prayer which was not prayed.”

Mistry’s side wanted to place a note about interim arrangement which was not accepted by the bench.

TSPL, formerly known as Tata Sons Limited, had sought setting aside of the judgment in toto ‘of NCLAT’, alleging it was ‘completely inconsistent with the annals of corporate law’ and reflected ‘non-appreciation of facts’, which was ‘”untenable in law’.

 

Tags: Cyrus MistryN ChandrasekaranNCLATSupreme CourtTata Sons
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Kamana Singh

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Parbati Mohanty

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Narendra Kumar

December 12, 2019
#MyPaperBagChallenge

Ramakanta Sahoo

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Sipra Mishra

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Ankita Balabantray

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Priyabrata Mohanty

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Pratyasharani Ghibela

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Geetanjali Patro

December 12, 2019

Archives

Editorial

Xi’s Purges

Brahma Chellaney
October 23, 2025

Brahma Chellaney During his 13 years in power, Xi Jinping has steadily tightened his grip on all levers of authority...

Read moreDetails

Behold Gen Z

GenZ
October 22, 2025

A new wave of political movements without any so-called ideological underpinning except for deafeningly noisy demands for basic citizens' needs...

Read moreDetails

Trumpian Dilemma

October 20, 2025

After showing admirable and decisive toughness in defusing the crisis in the Middle East, US President Donald Trump has been...

Read moreDetails

Empty Ambition

Rights & Restrictions: AAKAR PATEL
October 19, 2025

When was the last time you read or saw something about India and the G20? And what do you recall...

Read moreDetails
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2025 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2025 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2025 All rights Reserved by OrissaPOST