The National Company Law Appellate Tribunal today extended the hearing of petitions filed by Cyrus Mistry to Oct. 31, as the Tata Group sought more time to file their reply.
On August 24, while passing an interim order, the appellate tribunal had asked the Tatas to file their reply within 10 days and directed them to list the matter on Sept. 24 for next hearing. The deadline to file a reply was on Thursday, following which the Tata side approached the NCLAT to seek an extension to file their replies.
NCLAT has now given four more weeks to Tata to file a reply and two weeks to Mistry for filing a rejoinder, if any. Both petitions filed by Mistry and his investments firm Cyrus Investments will come for hearing on October 31.
Last week, Cyrus P Mistry had moved NCLAT in his personal capacity, requesting the appellate tribunal to set aside the impugned order passed by the National Company Law Tribunal on July 9.
On August 29, NCLAT had admitted Mistry's petition and issued notices. It had said the petition would be heard together with petitions filed by his family's investment firms, challenging the removal as well as conversion of Tata Sons into a private company from a public limited firm.
Earlier, on August 24, the tribunal passed an order over the petitions and directed Tata Sons not to force the companies to sell their shares in the Tata group firm.
The Mistry camp had challenged the July 9 order of the Mumbai bench of the NCLT which dismissed their pleas against his removal as Tata Sons chairman, as also the allegations of rampant misconduct on part of Ratan Tata and the company's Board.
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