NCLAT adjourns RoC plea on Tata-Mistry case till Jan 3

Tata Sons may have to tap sovereign wealth funds and other long-term investors for a possible funding tie-up to buy out the Mistrys. Photo for representational purpose

The hearing of Registrar of Companies’ plea, seeking modifications in National Company Law Appellate Tribunal’s (NCLAT) judgement in which Cyrus Mistry was reinstated as the executive chairman of Tata Sons, has been adjourned till Friday (January 2).

A two-member bench headed by Chairman Justice SJ Mukhopadhaya asked the Ministry of Corporate Affairs to submit details of the definition of private and public companies under the rules of the Companies Act.

The bench has also asked for clarification on the paid up capital requirement for the same.

Meanwhile, the counsel appearing for Tata Sons informed the appellate tribunal that the company has moved the Supreme Court against its order passed on December 18.

However, the petition is yet to be listed, the counsel added.

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