NCLT refuses to stay Tata Sons' EGM

Disobedience of judicial orders on Mistry's part, said court

The National Company Law Tribunal (NCLT) refused to grant a stay on Tata Sons’ decision to call an extraordinary general meeting (EGM) on February 6, the aim being to remove ex-head Cyrus Mistry as a director from its board.

Shapoorji Pallonji group firms Cyrus Investments and Sterling Investment Corporation had sought interim relief in the contempt petition against Tata Sons, already dismissed by the tribunal on January 18. However, while dismissing the contempt plea, NCLT had allowed the Mistry firms to file an affidavit on the issue. Accordingly, the latter on Tuesday asked for interim relief, seeking a stay on