Cyrus Mistry case: Tata Trusts nominees did not exceed their brief, SC told

The Tata Trusts holds 66 per cent stake in Tata Sons - the holding company of Tata Group companies - and Ratan Tata is the chairman of the Trusts

The National Company Law Appellate Tribunal (NCLAT) direction restraining Tata Group patriarch Ratan Tata and other Tata Trusts nominees from taking any decision in advance about Tata Sons affairs is nebulous and stifles the rights of Tata Sons shareholders, the Tata Group holding firm said in its petition to the Supreme Court.
 
The NCLAT order requires majority decision of the board of directors or in the annual general meeting which, the Tata Sons petition said, will result in the disenfranchisement of majority shareholders and cripple corporate democracy. 
 
The Tata Trusts holds 66 per cent stake in Tata Sons