Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
June 28, Wednesday 2017 7:43 PM       

       HEADLINES: Attack on actress: Govt is with the victim, says Kodiyeri                                              Pulsar Suni hid phone in kitchen                                              Half done things will be completed, says Behera                                              Dileep’s remark against actress mysterious, says Women’s commission                                              'Suni offered Rs 2 lakh to blackmail Dileep'                                              Operations at Jawaharlal Nehru port in Mumbai hit by ransomware                                              Aadhaar-PAN linking must from July 1, govt notifies rules                                              Junaid Khan lynching: Four more including 50-yr-old arrested                                              JIT to interrogate Sharif's daughter Maryam Nawaz in Panama case                                              China claims Indian troops crossed border, blocks pilgrims                                              Modi, Trump vow to fight terrorism                                              Abducted priest seen alive as Islamists hold out in Philippines                                              Macron says France will not recognise Crimea 'annexation'                                              Bumrah rises to second spot in T20 rankings                                              India finish second in Junior Shooting World Championship                                              Kumble-Kohli rift should've been handled better: Ganguly                                              Aditi Ashok records career-best finish on LPGA tour                                              Jeevan's life: lucky, unlucky and lucky again                                              Kaumudi Facebook
       BUSINESS Next Article: Air India lowers age limit for elderly travel concession  
       Mistry appeals against NCLT rejecting waiver plea in Tata case
 
         Posted on :23:12:22 Apr 21, 2017
   
A A
       Last edited on:23:12:22 Apr 21, 2017
         Tags: Mistry appeals against NCLT rejecting waiver
 
NEW DELHI: Ousted Tata Sons Chairman Cyrus Mistry has moved appellate tribunal NCLAT against the National Company Law Tribunal, which had rejected his plea for waiver in the eligibility criteria for filing case against the Tata Group.
 
The petition is likely to come for hearing next week before the National Company Law Appellate Tribunal bench, headed by NCLAT Chairman Justice S J Mukhopadhaya.
 
On April 17, National Company Law Tribunal had dismissed a petition filed by two firms belonging to Cyrus Mistry's family, seeking waiver of an eligibility condition for moving the forum against Tata Sons.
 
The Companies Act mandates that a petitioner should hold at least one-tenth of the issued share capital of a company or represent 10 per cent of the total number of members to file cases alleging mismanagement and oppression of minority shareholders.
 
The two firms -- Cyrus Investment Pvt Ltd and Sterling Investments Pvt Ltd had sought to challenge Mistry's ouster from Tata Sons last year and alleged that there was mismanagement and oppression of minority shareholders.
 
They had urged the NCLT to use its discretion and waive an eligibility condition for filing such a petition. The tribunal had held last month that the plea was not maintainable, because the petitioner firms did not meet one of the eligibility criteria prescribed by the Companies Act.
 
The firms contended that under the Act the tribunal can waive a requirement that petitioner should hold at least one- tenth of `issued share capital' of the company, or represent at least one-tenth of the company's minority shareholders.
 
Tata Sons had argued that if preference capital was also considered, the petitioner firms held only 2.17 per cent of the total issued share capital of Tata Sons.
 
Mistry was removed as Chairman of Tata Sons, the holding firm of Tata Group, one of the country's largest conglomerates, last October.
A A
       BUSINESS
Next Article: Air India lowers age limit for elderly travel concession
 
 
BUSINESS HEADLINES
EU fines Google $2.72 bn for breaching antitrust rules  
Sensex drops most in one month, banks take a beating  
Sensex, Nifty take a selling hit, reverse gear  
EU to slap Google with record fine this week: sources  
Kerala govt investing Rs 50,000 cr on infra projects: Issac  
AI privatisation welcome but clear salary dues first: Pilots  
Rupee halts 3-day slide v/s USD; up 7 paise at 64.52  
Spice GST Suvidha provider is all geared up for July 1st  
Sensex tumbles 153 pts on profit-booking  
Sensex hits all-time high of 31,522  
RBI to keep rates unaltered in near term: D&B  
Sensex surrenders record gains on GST blues, mixed global cues  
GST to be rolled at midnight June 30: Jaitley  
India plans SAARC meet for startups: Nirmala  
Rupee gains 11 paise against dollar, stocks play anchor  
"Rs 700 cr worth of Momentum Jharkhand proposals implemented"  
JK govt to seek complete consensus before GST implementation  
Mobile data consumption rose 142% in last 3 yrs: Kant  
Gold loses sheen on weak global cues, muted demand  
Rupee opens lower by 15 paise against dollar  
Nifty ends below 9,600 post Fed rate hike  
Paytm, 1mg offer discounts ahead of GST  
Customers may get Rs 5,000 if int'l SIM card fails  
Sensex closes higher, Nifty advances as inflation cools  
RBI issues new Rs.500 bank notes with inset letter 'A'  
 
Do you think there is conspiracy against Dileep?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy