Tata Sons cannot force Cyrus Mistry to sell his shares: NCLAT
New Delhi: In a partial relief to Cyrus Mistry, the National Company Law Appellate Tribunal (NCLAT) on Friday stated that Tata Sons cannot force him to sell his shares.
However, the two-judge bench headed by Justice S.J. Mukhopadhyaya, declined Mistry's appeal to stay the conversion of Tata Sons into a private company.
The court said it will decide on conversion of Tata Sons into a private company after the final hearing on September 24.
Further, NCLAT has admitted Mistry's appeal against his removal from the post of Tata Sons' Chairman in 2016. The appeal was against the order of the NCLT, Mumbai bench.