Tata Sons told the National Company Law Tribunal’s (NCLT’s) Mumbai bench on Thursday that the counsel representing the Mistry family’s investment firms had failed to prove any of their pleas violated the law. Abhishek Manu Singhvi, who appeared on behalf of Tata Sons, was responding to the allegations of oppression and mismanagement submitted by Mistry’s counsel. The two sides have been locked in a bitter legal dispute since December 2016, following the removal of Cyrus Mistry as the chairman of Tata Sons. The only exception he added was Article 75, which pertained to compulsory transfer of shares owned by the Mistry family.
Singhvi said none of the other articles cited by the counsel of the petitioners was unique or unheard of. Furthermore, all the shareholders agreed on the above articles over 51 years ago, he said.