Files petition under section 241 of Companies Act for alleged oppression and mismanagement at Tata Sons
Tata Power had informed the BSE about holding an Extraordinary General Meeting (EGM) on Monday in Mumbai to consider the resolution for removal of Mistry as director of the firm. (Photo: PTI)
Mumbai: Cyrus Mistry who resigned from key Tata Group companies on Monday approached the National Company Law Tribunal against Tata Group on Tuesday.
Mistry’s family-controlled investment firm took the matter with the tribunal against Tata Sons as it was widely expected.
The petition that was filed under section 241 of Companies Act alleges oppression and mismanagement at Tata Sons.
On October 24, Mistry was ousted as Tata Sons chairman at a hurriedly called board meeting purportedly at the behest of Tata Group patriarch Ratan Tata.
Since then, both Mistry and Tata have been logged in a bitter battle of words that threw allegations and counter-allegations against each other.
( Source : deccan chronicle )
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