The National Company Law Tribunal (NCLT) has dismissed a petition moved by Cyrus Mistry’s firms seeking transfer of their company petition against Tata Sons out of Mumbai bench. Justice MM Kumar dismissed the petition moved by Cyrus Investments Pvt Ltd and Anr and also imposed a cost of Rs 10 lakh. Cyrus Investments Ltd and Sterling Investments Ltd had applied for transfer of case against Tata Sons for alleged mismanagement of minority shareholders. They apprehended bias and therefore, sought transfer of the petition.
October 16th, 2017