Sebi says no intervention in Tata-Mistry dispute

Regulator says boards are best decision makers on corporate governance

The Securities and Exchange Board of India (Sebi) has taken a view that the allegations of corporate governance lapses made by ousted Tata Sons chairman Cyrus Mistry might not warrant the regulator’s intervention.

According to Sebi, the boards of companies are “the best decision makers” and are supposed to “exercise their power of decision making in good faith”. 

However, it has not ruled out action in case it detects any violation of securities laws. The regulator has apprised its board members of its stand. 

Mistry had questioned the decision-making process of the boards of Tata companies. “As there is no