SC to hear after 10 days plea of CIPL for expunction of adverse remarks against Mistry

PTI, Feb 28, 2022, 12:04 PM IST

The Supreme Court on Monday said it would hear after ten days the plea of Cyrus Investment Pvt Ltd (CIPL) seeking expunction of 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 ten days,” said the bench which also comprised justices A S Bopanna and Hima Kohli.

Senior advocates Harish Salve and A M Singhvi, appeared for the Tata Group.

“We have serious objections to the maintainability (of this application),” said Salve when the bench indicated that it would like to issue the notice on the plea of CIPL and others.

The bench said then it would hear both the parties after ten days.

Earlier, the apex court had decided in open court the plea of CIPL and others.

The top court on March 26, 2021, had set aside a National Company Law Appellate Tribunal (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.

The SP Group had told the top court that Mistry’s removal as the chairman of TSPL 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 Mistry as the chairman.