Fallout of board battle: Tata Sons free to become private firm, rules NCLT

The Mumbai Bench of the National Company Law Tribunal (NCLT) justified Tata Sons’ conversion into a private limited company from a deemed public limited one. This was one among the various points elaborated upon in the 368-page order on the Tata-Mistry verdict on Thursday. The Bench had ruled in favour of Tata Sons on July 9.

Cyrus Mistry’s family, which owns 18.4 per cent in Tata Sons’ equity capital, had moved a petition in the NCLT, opposing Mistry’s sacking in October 2016 as well as the conversion of the Tata group holding company into a private limited company. 

Presided over by B