The Supreme Court on Monday said it would hear after 10 days the plea of Cyrus Investment Pvt Ltd (CIPL) seeking to expunge certain remarks made allegedly against Cyrus Mistry in the 2021 verdict setting aside the NCLAT’s order which had restored Mistry as the executive chairman of the Tata Group.
A bench headed by Chief Justice N V Ramana was told by senior advocate Janak Dwarkadas, appearing for CIPL and Mistry, that this is an application for expunging “certain remarks which affect my reputation, integrity and character” in the judgement.
“We will hear this after 10 days,” said the bench which also comprised justices A S Bopanna and Hima Kohli.
Mr Mistry’s plea mentioned that the top court’s remarks in the judgment raised questions about his reputation and character.
Senior advocates Janak Dwarkadas and Shyam Diwan, on behalf of Mr Mistry, said “This is an application to expunge certain remarks which affects my reputation, integrity and character.”
Tata Sons has opposed the plea. Senior advocate Harish Salve who was appearing for Tata Sons said, “We have serious objections to the maintainability (of this application).”
Tata Sons is represented by senior advocates Harish Salve, Abhishek Manu Singhvi and a team of lawyers from Karanjawala & Co.
Tata Sons Chairman Emeritus Ratan Tata had said the 2021 order validated the values and ethics that always guided the Tata group.
Mr Mistry had succeeded Ratan Tata as the Chairman of Tata Sons in 2012 but was ousted four years later.
The Shapoorji Pallonji Group had told the court that Mr Mistry’s removal as the chairman of Tata Sons at a board meeting held in October 2016 was akin to a “blood sport” and “ambush”, in complete violation of the principles of corporate governance and in pervasive violation of the Articles of Association in the process.
The Tata Group had vehemently opposed the allegations and denied any wrongdoing, saying the board was well within its right to remove Mr Mistry as the chairman.
In a separate development, the top court has agreed to hear in open court a review plea filed by Cyrus Investments Ltd against its order setting aside appellate tribunal NCLAT’s order which had restored Mr Mistry as the Executive Chairman of the Tata Group. The matter will be heard on March 9.
The National Company Law Appellate Tribunal had in December 2019 restored him as the Executive Chairman of Tata Sons. That order, challenged by the Tatas, was scrapped by the Supreme Court in March last year.
The top court on March 26, 2021, had set aside a NCLAT order restoring Mistry as the executive chairman of USD 100 billion salt-to-software conglomerate.
The apex court had also dismissed a plea of Shapoorji Pallonji Group seeking separation of ownership interests in Tata Sons Pvt Ltd (TSPL).
Mistry had succeeded Ratan Tata as the chairman of TSPL in 2012 but was ousted four years later.