NCLT reserves order on waiver plea by Mistry family firms

The bench of B S V Prakash Kumar and V Nallasenapathy is likely to pass the order on Apr 17

The National Company Law Tribunal (NCLT) here today reserved its order on an application filed by two firms belonging to the former Tata Sons chairman Cyrus Mistry's family, seeking waiver of an eligibility condition.

The two firms have challenged before the tribunal Mistry's removal from the Tata Sons last year.

The bench of B S V Prakash Kumar and V Nallasenapathy is likely to pass the order on April 17.

The two Mistry family companies urged the NCLT to waive the condition that a petitioner before the tribunal should hold at least one-tenth of the issued share capital of the company or represent