NCLT Dismisses Cyrus Mistry's Plea To Transfer Case Against Tata Sons, Imposes Rs 10-L Cost [Read Order]

The National Company Law Tribunal (NCLT) has dismissed a petition moved by Cyrus Mistry's firms seeking transfer of their company petition against Tata Sons out of Mumbai bench.

Justice MM Kumar dismissed the petition moved by Cyrus Investments Pvt Ltd and Anr and also imposed a cost of Rs 10 lakh.

Cyrus Investments Ltd and Sterling Investments Ltd had applied for transfer of case against Tata Sons for alleged mismanagement of minority shareholders.

They apprehended bias and therefore, sought transfer of the petition.

Appearing for Tata Sons, senior advocates Abhishek Manu Singhvi, Mukul Rohatgi, Mohan Parasaran and Amit Sibal, along with advocates from Karanjawala and Co., and Shardul Amarchand Mangaldas and Co. opposed the transfer petition.

The main objection of Tata Sons was "the move to seek transfer of the Company Petition is a clear case of bench hunting and forum shopping as the Transfer Petition was filed while deliberately suppressing that on previous three occasions, similar prayers were sought by the Petitioners before the NCLT, Mumbai Bench and the NCLAT, which, in effect, were all rejected".