The National Company Law Appellate Tribunal on Friday reserved its orders on a plea filed by the Registrar of Companies seeking deletion of adverse comments against it in the appellate tribunal's Dec. 18 judgment that had reversed Cyrus Mistry's removal as executive chairman of Tata Sons Pvt. Ltd.
A two-judge bench, headed by Justice SJ Mukhopadhyay, informed the public authority today that its judgment is only a finding based on facts. The bench also said that it will record a line saying that the judgment doesn't cast aspersions on them.
The NCLAT, on Dec. 18, had struck down the conversion of Tata Sons as private company from public while holding the registrar's decision to recognise the conversion as incorrect. The representatives for the registrar today informed the appellate tribunal that they had only performed their duty mandated under the law.
The appellate tribunal, after hearing the arguments, said it would pronounce its order on Monday.
The NCLAT had said in its Dec. 18 order that the registrar had acted against the provisions of Section 14 of the Companies Act, 2013, in approving the conversion, which was “hurriedly done and with the help of the registrar of companies”.
Also Read: NCLAT's Tata-Mistry Ruling Raises More Questions Than It Answers
To this, the registrar said in its petition that the NCLAT never gave them a chance to put their side before recording adverse comments against it in the order. It said that it has acted in accordance with the law and that the NCLAT has taken allegations against them as “gospel truth”, without verifying it from their office.
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