Home Business Cyrus Mistry’s allegations hit by humungous delay of decades: Tata counsel

Cyrus Mistry’s allegations hit by humungous delay of decades: Tata counsel

Tata Group Chairman Cyrus Mistry speaks to shareholders during the Tata Consultancy Services (TCS) annual general meeting in Mumbai, India June 28, 2013. REUTERS/Vivek Prakash/File Photo

(G.N.S) Dt. 20
Tata Sons’ counsel A M Singhvi concluded his arguments after six full days of being o his legs before the National Company Law Tribunal (NCLT) in the mismanagement and oppressions complaint against the conglomerate. The complaint was filed by two minority shareholders, companies held by family of ousted Tata Sons chairperson Cyrus Mistry.
Singhvi pointed out that the allegations of a nexus between Tata and excessive favouritism for Siva group by Ratan Tata was “clearly a false and wild allegation by Cyrus Mistry” as was the allegation that Nano had been perpetuated because of the obstinacy of Ratan Tata.
Singhvi referred to minutes of board meetings presided over by Mistry from 2013 to 2016 and letters to state that “he knew all facts” since inception and “never objected or protested and actively endorsed Tata’s stand on most issues.” Singhvi said that “all allegations were barred by humongous delay of decades.” He said, “at worst, they involved issues of commercial judgement or wisdom which could not be retrospectively assailed by Mistry or reviewed the NCLT.”
Senior counsel Mohan Parasaran started his arguments after Singhvi, who will return to give a sur rejoinder to senior counsel C A Sundaram’s rejoinder later.

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