Tata Sons must seek NCLT nod for conversion to pvt firm: Mistry to SC

Mistry counsel Sundaram says such a move is necessary under provisions of the new Companies Act of 2013

Tata Sons, the holding company of the Tata group, must apply to the National Company Law Tribunal (NCLT) for conversion into a private company in accordance with the Companies Act of 2013, the Mistry family argued before the Supreme Court on Tuesday.

“After the new Companies Act came into force, if a public company wants to become a private company then it must apply to the NCLT for reconversion to private company,” CA Sundaram, counsel for the Mistry family, told the court. 

As Tata Sons became a deemed public company, it should follow the procedure for reconversion, he said. “There is no