The National Company law Tribunal (NClT) on Tuesday refused to grant a stay on the extraordinary general meeting (EGM) called by Tata Sons on February 6 to consider removal of Cyrus Mistry from the Board of Tata Group's holding company.
A Sundaram, counsel for Cyrus Mistry family companies, pressed for interim relief in contempt petition (against Tata Sons) which had sought a stay on EGM slated for February 6.
“This issue was already decided in the last hearing when the contempt petition filed by two Mistry family companies was dismissed. There are no road blocks for Tata Sons to hold the EGM. It can go ahead with the forthcoming EGM,” said a division bench of NClT comprising BSV Prasad Kumar (Member-Judicial) and V Nallasenapathy (Member-Technical). lawyer for Mistry companies sought adjournment and NClT deferred the hearing till February 13.