Tatas refute Mistry’s claims over quasi-partnership at Supreme Court

NEW DELHI: Tata Sons Pvt Ltd on Friday told the Supreme Court that it was not a ‘two-group company’ and that there was no ‘quasi-partnership’ between it and Cyrus Investments Pvt Ltd, a firm owned by erstwhile Tata Sons chairman Cyrus Mistry. 

The Tatas’ affidavit was filed at the SC in response to a cross-appeal filed by Cyrus Investments seeking the removal of certain alleged anomalies in an earlier NCLAT order.

According to the Mistry camp, they are entitled to board seats in proportion to their stakes in Tata Sons. However, Tata Sons refuted these claims.

“All the foregoing facts (mentioned in the affidavit) are clear signs of the fact that Tata Sons was never intended to be and is not a ‘two-group company’ and there is certainly no quasi-partnership between the appellants (Cyrus Investments and another firm) and the so called ‘Tata Group’,’ it said.

The SC had granted the Tatas relief in January this year by staying the NCLAT order which restored Mistry as executive chairman on the conglomerate.