The Mumbai bench of National Company Law Tribunal (NCLT) has fixed July 4 as the date for pronouncement of its verdict in the Tata Sons, Cyrus Mistry saga. Ouster of Mistry as executive chairman, Tata Sons, in October 2016, had led to his family-run investment firms slapping a case, as minority shareholders, of oppression and mismanagement against the corporate monolith and others including Ratan Tata, two months later.
The ultimate relief being sought was for winding up of Tata Sons, a $103 billion conglomerate.
After a chequered battle with the matter being sent back to the tribunal by its appellate panel in Delhi, it was heard on merits by the main bench of BSV Prakash Kumar and V Nallasenapathy. The bench had concluded a lengthy and animated, sometimes stormy hearing early February. Read More