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Tata-Mistry case: Stake worth over Rs 1.5 lakh crore, claims Mistry camp

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Cyrus Investments on Tuesday told the Supreme Court of India that Cyrus Mistry was ousted after objecting to an illegal act of influence by Tata Trustees and claimed that their 18 percent Tata Sons stake is worth over Rs 1.5 lakh crore and not Rs 80,000 crore as valued by Tata Sons.

Cyrus Investments on Tuesday told the Supreme Court of India that Cyrus Mistry was ousted after objecting to an illegal act of influence by Tata Trustees and claimed that their 18 percent Tata Sons stake is worth over Rs 1.5 lakh crore and not Rs 80,000 crore as valued by Tata Sons.
The top court is hearing cross-appeals filed by Tata Sons and Cyrus Investments against appellate tribunal NCLAT's order which had restored Cyrus Mistry as the executive chairman of the over USD 100 billion salt-to-software Tata conglomerate.
The Mistry lawyers also argued that it is this very value (15 percent stake) that has been hurt on account of mismanagement and interference by Tata Trustees into the operation of Tata Group companies.
They alleged that Tata Trustees overwhelmed the board of Tata Group companies, which in turn led to bad managerial decisions and bad operational decisions.
CNBC-TV18’s Ashmit Kumar has the details of this case hearing

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