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JUDICIARY WATCH

Tata Sons hails NCLT order

Staff reporter, New Delhi
25/04/2017   0 Comments

The Tata Sons welcoming the order of the NCLT has said that the Tribunal did not see a prima facie triable case to take forward on the alleged mismanagement by the Company.

The National Company Law Tribunal has ruled that the Petitioners representing certain companies of the SP Group have failed to establish the merits of the Petition, and have also failed to demonstrate any cause of action against Tata Sons, the Tata Trusts and Ratan N Tata, it said.

The Executive Chairman of Tata Sons, N Chandrasekaran, said: “We welcome the NCLT’s order, and it is an endorsement of these values and principles. Tata Sons and the operating companies are focused on growth to deliver value to our shareholders, and we thank all stakeholders for their continued support.”

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