The National Company Law Tribunal (NCLT) has dismissed a contempt petition filed by two Cyrus Mistry family companies against Tata Sons and its directors, alleging violation of NCLT directives in taking steps to remove him from the board of Tata Sons.<br/><br/><br/>A division bench of NCLT, however, gave liberty to the Mistry family companies to file an affidavit within three days on the issue of Tata Sons holding extraordinary general meeting (EGM) on February 6. <br/><br/>The bench was of the view that the action of Tata Sons did not amount to contempt of court. In their petition, Cyrus Investments Ltd and Sterling Investment had also sought injunction against the Tata Sons barring them from "convening or holding of the EGM scheduled for February 6, 2017 or any other date or from transacting any business thereat." <br/><br/>Tata Sons was also asked to file a rejoinder, if any, three days thereafter. NCLT kept this matter for hearing on January 31 and February 1 when the main petition filed earlier by the two Mistry companies against Tata Sons will be heard. <br/><br/>The earlier petition had challenged Mistry's removal as the chairman of Tata Sons alleging bad practices, oppression and mismanagement in the holding company.<br/><br/><br/>

<br/>The National Company Law Tribunal (NCLT) on Wednesday dismissed a contempt petition filed by Cyrus Mistry's family companies against Tata Sons and its directors, alleging violation of NCLT directives in taking steps to remove him from the board of Tata Sons. <br/><br/>The bench, however, gave liberty to the Mistry family companies to file an affidavit within three days on the issue of Tata Sons holding EGM on February 6. Pronouncing the operative part of the order, a division bench of NCLT said, "the contempt petition is dismissed." <br/><br/>The bench was of the view that the action of Tata Sons did not amount to contempt of court. In their petition, Cyrus Investments Ltd and Sterling Investment had also sought injunction against the Tata Sons barring them from "convening or holding of the EGM scheduled for February 6, 2017 or any other date or from transacting any business thereat." <br/><br/>Tata Sons was also asked to file a rejoinder, if any, three days thereafter. NCLT kept this matter for hearing on January 31 and February 1 when the main petition filed earlier by the two Mistry companies against Tata Sons would be heard. <br/><br/>The earlier petition had challenged Mistry's removal as the chairman of Tata Sons alleging bad practices, oppression and mismanagement in the holding company.<br/><br/><br/>