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    Tata-Mistry case: SC stays NCLAT order rejecting RoC please seeking modification

    Tata-Mistry case: SC stays NCLAT order rejecting RoC please seeking modification

    Tata-Mistry case: SC stays NCLAT order rejecting RoC please seeking modification
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    By CNBC-TV18  IST (Updated)

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    The NCLAT in its December 18 order termed the conversion of Tata Sons from a public limited to a private limited company “illegal” and asked for a reversal of the decision.

    The Supreme Court has ordered a stay on the NCLAT’s order dismissing the Registrar of Companies plea seeking modification of verdict in Cyrus Mistry’s case against Tata Sons.
    A three-judge bench comprising Chief Justice S A Bobde, Justices B R Gavai and Surya Kant agreed to hear the matter, along with the main plea filed by Tata Sons against NCLAT's verdict.
    The SC has issued notices to the concerned parties.
    The NCLAT in its December 18 order termed the conversion of Tata Sons from a public limited to a private limited company “illegal” and asked for a reversal of the decision.
    RoC had filed an urgent application seeking modifications to the judgement, including deletion of the word “illegal” in reference to the conversion.
    The MCA requested the NCLAT to amend the order to correctly reflect the conduct of RoC Mumbai as not ‘illegal’ but as per the provisions of the Companies Act, 1956/2013.
    Also, the MCA sought amendments to delete the aspersions made in the order regarding any hurried help by the ROC Mumbai to Tata Sons, except what was statutorily required.
    The NCLAT on January 6 dismissed the RoC’s plea. The tribunal, however, clarified that its judgement had neither cast aspersions on the RoC nor ascribed any mala fide intention to it.
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