Tata counsel refutes allegations on share purchase deal with Sivasankaran

Abhishek Manu Singhvi argued that it was Shapoorji Group and not Siva who benefited from the sale of shares to Docomo

At the hearing at the  Mumbai bench of National Company  Law Tribunal (NCLT), Tata Sons’ counsel on Friday refuted allegations by Mistry's family investment firms with regard to allotment of shares of Tata Teleservices to S Sivasankaran (Siva) in 2006, the Seychelles-based businessman, at a discounted rate. He also dismissed submissions by Mistry’s counsel, Aryaman Sundaram, on financial support given to Siva by Tata Sons for the share purchase.  Abhishek Manu Singhvi, Tata Sons ’counsel, argued that on contrary it was Shapoorji Group and not necessarily Siva who benefited from the sale of shares to Docomo.

Sundaram stated that the shares