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Providing an interim relief to Cyrus Mistry, the National Company Law Appellate Tribunal (NCLAT) on Friday asked Tata Sons not to force the ousted chairman to sell stake in the group.
The appellate tribunal, which accepted Mistry camp's petition, will start the hearing from September 24. However, it declined to pass any order on Mistry's plea to prevent Tata Sons converting the company into a private firm.
The two-member Bench headed by SJ Mukhopadhaya said NCLAT will decide on the conversion issue at a later stage. Earlier on August 14, NCLAT had reserved an order over the interim relief sought by Mistry camp.
Tata Sons forcing Cyrus Mistry to sell off his family stake of about 18.4 per cent was among the pleas filed before the National Company Law Tribunal (NCLT) in Mumbai. The pleas were made under Article 75 of Articles of Association of Tata Sons.
Cyrus Mistry had moved NCLAT after NCLT had ruled in favour of Tata Sons. The plea had alleged that the lower court’s judgment is replete with errors of reasoning and errors of law.
Mistry’s office declined to comment on the development, stating that the issue was sub-judice.
Also read : Errors of reasoning and of law in NCLT order
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