Mistry loses agin as NCIT dismisses plea

The national company Tribunal ( NCLT ) dismissed contempt petition filed by two Cyrus Mistry family companies against Tata Sons and its directors, alleging violation of NCLT of directives in taking steps to remove
him from the board in TaTa Sons.

The Bench,  however, gave liberty to the Mistry family companies to file an affidavit within thr days on the issue of Tata Sons holding extraordinary general meeting ( EGM ) on February 6.

Pronouncing the operative part of the order, a division bench ( NCLT ) said "The contempt petition.is dismissed." The Bench was of the view that the action of Tata Sons  did not amount to contempt of court. In their petition, Cyrus investors and sterling investment  had also sought injection against the Tata Sons barring
them from "convening or holding of the EGM scheduled
for February 6.2017 or any other date or from transacting any business threat".