NEW DELHI: Alleging violation of the National Company Law Tribunal’s (NCLT) order in initiating steps to remove former Tata Sons Chairman Cyrus Mistry from the board, two investment firms owned by the family of Mistry on Wednesday filed a contempt application at NCLT against Tata Sons, Tata Trusts and their officers and directors including Ratan Tata.
However, a Tata group spokesperson said: “There is no contempt and we would make our submissions to the NCLT.”
In the application filed at the NCLT, Cyrus Investments Ltd and Sterling Investment sought an injunction against Tata Sons from “convening or holding of the EGM (extra-ordinary general meeting) scheduled on February 6, 2017 or any other date or from transacting any business thereat”.
It also sought punishment for Tata, other directors of Tata Sons and trustees of Ratan Tata Trust and Dorabjee Trust -- N A Soonawala, R K Krishnakumar and R Venkatramana -- with “simple imprisonment for a term which may extend to six months” or fine of `2,000 or both.
The application alleged that the respondents have committed a breach of the NCLT order passed on December 22, 2016 by issuing a special notice on January 3 for the removal of Mistry as a director from the board of Tata Sons “in clear violation of the order”.
“It is submitted that if the EGM is allowed to be held, the same would also constitute a deliberate and contumacious breach of the aforesaid dated December 22 and 26 and all those participating in and voting at such meeting would also be guilty of contempt,” it added.