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The Union Cabinet and the Council of Ministers are expected to meet on Thursday, a day after Prime Minister Narendra Modi rejigged his team. Shapoorji Pallonji (SP) Group said it does not need Tata Group’s permission to pledge a part of its 18.5-per cent stake in Tata Sons, These are the top headlines at this hour. Modi Cabinet 2.0 is all about politics and governance Prime Minister Narendra Modi on Wednesday sacked many senior colleagues, elevated some, and infused the government with new faces to make the most comprehensive reshuffle of his council of ministers in the government’s seven-year tenure. Jyotiraditya Scindia will be in charge of the civil aviation ministry and Manusukh Mandavia will lead the health ministry. Read ....
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Supreme Court s Tata ruling has patent errors: SP s review plea SECTIONS Share Synopsis In its review petition filed before the Supreme Court (SC), the Shapoorji Pallonji (SP) Group has contended that the apex judiciary’s March 26 judgment dismissing all allegations of oppression and mismanagement at Tata Sons has led to miscarriage of justice . (This story originally appeared in on Apr 28, 2021)In its review petition filed before the Supreme Court (SC), the Shapoorji Pallonji (SP) Group has contended that the apex judiciary’s March 26 judgment dismissing all allegations of oppression and mismanagement at Tata Sons has led to miscarriage of justice . It argued that the judgement incorrectly interpreted provisions in the Companies Act, eroding governance standards and rendering a large swathe of minority shareholders remediless. ....
(This story originally appeared in on Apr 28, 2021)MUMBAI: In its review petition filed before the Supreme Court (SC), the Shapoorji Pallonji (SP) Group has contended that the apex judiciary’s March 26 judgment dismissing all allegations of oppression and mismanagement at Tata Sons has led to “miscarriage of justice”. It argued that the judgment incorrectly interpreted provisions in the Companies Act, eroding governance standards and rendering a large swathe of minority shareholders remediless. Additionally, SP scion and former Tata Sons chairman Cyrus Mistry filed an application seeking removal of certain adverse remarks like “setting his own house on fire” from the judgment. The law permits “patent errors” in a ruling to be rectified in a review petition. ....
MUMBAI: The Shapoorji Pallonji (SP) Group filed for a review on Saturday of the Supreme Court verdict in its minority shareholder oppression case against Tata Sons. The move came on the last day to file such an appeal. A review plea can be filed within 30 days of a verdict, and the SC ruling in this SP-Tata Sons case was pronounced on March 26. The petition challenges certain alleged errors in the judgment, which had set aside the order of the National Company Law Appellate Tribunal (NCLAT) that had reinstated SP scion Cyrus Mistry as the chairman of Tata Sons. SP holds 18.4% in Tata Sons, the holding company of the $100-billion Tata conglomerate, and Mistry was removed from the chairman’s post in October 2016 in a boardroom coup. The petition is not a review of the entire judgment but some aspects of fact and law that are patent errors, said people familiar with the matter. ....