MUMBAI

Mistry moves against Tata Sons' EGM

PTI10_24_2016_000164A (File) Ratan Tata and Cyrus Mistry (right) | PTI

Tata Sons' ousted chairman Cyrus Mistry, on Thursday, approached the New Delhi-based National Company Law Appellate Tribunal (NCLAT) for an injunction against the proposed extraordinary general meeting (EGM) of the Tata Group's holding company.

The petition moved by Mistry's investment company is slated to come up for hearing on Friday.

The development comes two days after the National Company Law Tribunal (NCLT), Mumbai, did not restrain Tata Sons from holding the proposed EGM on February 6, 2017.

The holding company of the global industrial conglomerate has called a shareholders' meet to remove Mistry as a director on the company's Board.

Earlier on October 24, 201, Tata Sons' Board had ousted Mistry as its chairman and appointed Ratan Tata as interim chairman. 

However, Mistry still remains a director on the Board of the holding arm of the $100 billion-plus group.

Tata Trusts hold 66 percent stake in the holding company of the Tata Group, with Mistry's family holding over 18 percent interest.

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Topics : #Cyrus Mistry

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