From NCLT to Sebi, Mistry shifts battleground

Claims corporate governance breakdown was due to Ratan Tata's hold over nominee directors

Ousted Tata Sons chairman Cyrus Mistry has written a letter to the Securities and Exchange Board of India (Sebi) Chairman U K Sinha seeking the regulator’s intervention on alleged violation of corporate governance and insider trading norms in some Tata group companies.

In a six-page letter to Sebi, he said, “Considering that the conduct of corporate governance in the Tata group has been considered a benchmark for governance in the Indian securities market, and indeed a signal to the world at large of how corporate India conducts itself, and how misconduct is regulated in India, it is important that I