Tata-Mistry case: SC stays NCLAT's Jan 6 order rejecting RoC plea

The Supreme Court Friday stayed the order of appellate tribunal NCLAT which had dismissed the plea filed by Registrar of Companies (RoC) seeking impleadment and modification of its last month's verdict in the Tata-Mistry case.

In its January 6 order, the National Company Law Appellate Tribunal (NCLAT) had rejected RoC's plea saying that no aspersions were cast on the Registrar in terming as illegal the decision to allow conversion of Tata Sons Pvt Ltd (TSPL) into a private company.

Aggrieved by the order, TSPL filed a fresh appeal in the apex court claiming that the NCLAT, while dismissing RoC's plea, had assigned "fresh and additional reasons" to support the conclusion reached by it in its last month's verdict.

The NCLAT verdict of December 18, 2019, which had restored Cyrus Mistry as the executive chairman of the Tata Group, has already been stayed on January 10 by the apex court which observed that there were "lacunae" in the orders passed by the appellate tribunal.

The TSPL's fresh appeal came up for hearing on Friday before a bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant.

"We will pass the same order," the bench told senior advocate Abhishek Manu Singhvi, who was appearing for Tata Sons Pvt Ltd, and stayed the NCLAT's order.

The bench also issued notices to Cyrus Mistry, Cyrus Investments Pvt Ltd and others on the plea and said it would be heard along with the main matter.

In its appeal against the January 6 order, TSPL has said, "Notwithstanding such dismissal, inexplicably and for no justified reason, the impugned order assigns fresh and additional reasons to support the conclusion reached by it in the NCLAT judgement."