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Mistry Brothers Face Trial In Rs 500-Crore Defamation Suit

Published on 12 Jul 2017 by Team

Former Tata Sons Chairman Cyrus Mistry and six others have been summoned by a Metropolitan Magistrate’s Court in a Rs 500-crore defamation suit filed by Tata Trusts’ Managing Trustee R Venkataramanan.

The other people summoned include Shapoor Mistry, the older brother of Cyrus Mistry and chairman of the Shapoorji Pallonji Group, and directors of the two firms run by the family – Cyrus Investments Pvt. Ltd., and Sterling Investments Pvt. Ltd.

The seven people summoned are:

  • Cyrus Mistry, former chairman, Tata Sons
  • Shapoor Mistry, chairman, Shapoorji Pallonji Group
  • Rohan Nentin, director at both Mistry family firms
  • Firoze Bhatena, director at both Mistry family firms
  • Vikas Parve, director, Cyrus Investments
  • Prachi Deodhar, director, Sterling Investments
  • Vinay Karve, authorised representative of the two Mistry companies at the National Company Law Tribunal

They have been asked to appear before the court on August 24. The seven have the option of moving the Bombay High Court against the order. If found guilty, they can face up to two years in prison.

Venkataramanan, the managing trustee of Sir Dorabji Tata Trust, had filed the defamation for “causing irreplaceable damage” to his reputation, citing certain emails by the former chairman to Tata Sons which were leaked to the media after his ouster in October last year. Mistry had raised governance concerns, questioning the role of directors nominated by Tata Trusts.

Venkataramanan filed the suit in his private capacity. Mistry’s office had called it a “poor tactic to muzzle litigation”.

Source: Bloombergquint



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