Mistry files appeal in SC, says kin deserved more relief from NCLAT

Mistry, whose family owns 18.37 per cent stake in Tata Sons, has filed a cross appeal in the court.

Generally, a cross appeal refers to an appeal made against certain facets of a judgement.

On January 25, athree-judge bench headed by Chief Justice Arvind Bobde stayed the National Company Law Appellate Tribunal (NCLAT) order, dated December 18, wherein Mistry was reinstated as Tata Sons chairman. The stay came on an appeal filed by Tata Group.

In the petition, Mistry has described the group’s relationship with Tatas as “a quasi-partnership relationship of a vintage of over 60 years, holding 18.37 per cent in the equity share capital of Tata Sons and whose stake is now worth over Rs 1.5 lakh crore”.

The Mistry camp has sought remediesfor many anomalies in the NCLAT order, including about not looking at alleged oppression of minority shareholders as well as converting Tata Sons into a private limited company as a post-facto move.

The conversion happened after Mistry was removed as chairman on October 24, 2016.