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Cyrus Mistry commences legal battle against Tata Sons -sources
December 20, 2016 / 1:05 PM / 9 months ago

Cyrus Mistry commences legal battle against Tata Sons -sources

MUMBAI, Dec 20 (Reuters) - Tata Sons’ ousted chairman Cyrus Mistry ratcheted up his battle versus the $100 billion software-to-salt conglomerate with the commencement of legal proceedings against the company on Tuesday, two sources familiar with the matter said.

The move comes a day after Mistry’s surprise move to resign from the boards of all listed Tata companies.

The legal proceedings have commenced with the filing of a petition at the National Companies Law Tribunal (NCLT), a quasi-judicial body that deals with corporate grievances in India, the sources said.

Mistry has filed a petition under sections 241 and 242 of the Companies Act of 2013 that deal with shareholder oppression and mismanagement, said one of the sources. (Reporting by Promit Mukherjee, editing by Euan Rocha and Louise Heavens)

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