homevideos Newslegal NewsTata versus Mistry: Mere existence of veto right has been misconstrued, says Abhishek Manu Singhvi

Tata versus Mistry: Mere existence of veto right has been misconstrued, says Abhishek Manu Singhvi

Two weeks after the company law appellate tribunal ruled in favour of Cyrus Mistry's reinstatement as the chairman of Tata Sons, Tata's have moved the Supreme Court terming the order as "abhorrent to corporates" and "dangerous." Tata Sons have argued that the verdict has put the functioning of the company at risk.

Profile image

By CNBC-TV18 Jan 2, 2020 10:52:25 PM IST (Updated)

Listen to the Article(6 Minutes)
Two weeks after the company law appellate tribunal ruled in favour of Cyrus Mistry's reinstatement as the chairman of Tata Sons, Tata's have moved the Supreme Court terming the order as "abhorrent to corporates" and "dangerous." Tata Sons have argued that the verdict has put the functioning of the company at risk.

Cyrus Mistry was removed as chairman of Tata Sons in October 2016. Tata's have recruited a crack legal team that consists of Harish Salve, Mukul Rohatgi, Mohan Parasaran and Abhishek Manu Singhvi to argue in the top court. To discuss this CNBC-TV18 spoke to Abhishek Manu Singhvi Tata Sons' counsel.
Singhvi said, "The entire case appears to have proceeded on the assumption that because Tata Trusts who have a veto power and affirmative vote power which has never been exercised in the 100-year-old history of the company, the mere fact that that power is there and that some informal discussions are held between the board of Tata Sons and the individual nominees of the trusts without ever exercising such veto power, that amounts to prejudice? That to prejudice of the gigantic kind which suggests that the company is liable to be wound up?"

Most Read

Share Market Live

View All
Top GainersTop Losers
CurrencyCommodities
CurrencyPriceChange%Change