Tata Sons vs Cyrus Mistry : Live Updates From Supreme Court Hearing

The bench rises. Arguments over for the day. Hearing to continue tomorrow.

CJI : We would like not to 'mismanage' this case and not to cause 'oppression'.

Lawyers laugh.

CJI : We would like the arguments not to be repetitive.

Singhvi says he would need 2 hours at least. Shyam Divan says he will take a couple of hours. C A Sundaram says he might need four hours.

CJI : Mr. Salve, how much more time you will take?

Salve : I will take at least one hour more.

Salve : It should come out of the acts of the management and the acts should be inconsistent with the Articles of Association.

CJI : This is another point we need to consider. Can there be a finding of oppression or mismanagement because of Articles of Association or it should come out of the acts of management?

Salve : Their (Mistry's) complaint is that the company is being run in accordance with the Articles of Association and the Articles are unfair.

CJI : So the situation should be so bad that the Court should be find that the company must be wound up.

Salve : We (Tata Sons) are miles away from that.

CJI : Because you have done so well.

The conduct must be "burdensome", "harsh", and "wrongful". It should involve at least a lack of probity or fair dealing : Salve quotes from the Harmer's case.

Lack of confidence springing from the oppression of the minority by the majority involving lack of probity is needed : Salve quotes from the Harmer's case.