SC Orders Status Quo On Raising Capital Over Shares Held By Mistry's In Tata Sons
Live LawThe Supreme Court on Tuesday ordered status quo against Mistry firms & Shapoorji Pallonji Mistry on raising capital against security of their shareholding in Tata Sons, by pledging, transferring or any further action in relation to the shares.A bench of Chief Justice SA Bobde, Justice AS Bopanna & V. Ramasubramaniun will hear the case which was moved vide an "urgent application" by. The Supreme Court on Tuesday ordered status quo against Mistry firms & Shapoorji Pallonji Mistry on raising capital against security of their shareholding in Tata Sons, by pledging, transferring or any further action in relation to the shares. Today, Senior Advocate CA Sundaram appearing for Mistry's told the Court that Tata Sons was stopping the pledging of shares and sought early disposal of the case. Cyrus Mistry's appeal against the National Company Appellate Tribunal's judgement which had reinstated him as the Executive Chairman of Tata Group is pending before top Court for adjudication.