https://www.taxtmi.com/caselaws?id=405853 The Supreme Court allowed the appeals filed by the Tata Group, overturning the NCLAT order and dismissing the company petition filed by the SP Group. It concluded that the removal of CPM did not amount to oppression or mismanagement, affirming the validity of the affirmative voting rights of the Tata Trusts' nominee directors. The court validated the conversion of Tata Sons to a private company, rejected the SP Group's claim for proportional representation on the Board, and upheld the validity of Article 75 of the Articles of Association. The application for separation of ownership interests by the SP Group was also dismissed. en-us Fri, 26 Mar 2021 00:00:00 +0530 Wed, 27 Nov 2024 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405853 The Supreme Court allowed the appeals filed by the Tata Group, overturning the NCLAT order and dismissing the company petition filed by the SP Group. It concluded that the removal of CPM did not amount to oppression or mismanagement, affirming the validity of the affirmative voting rights of the Tata Trusts' nominee directors. The court validated the conversion of Tata Sons to a private company, rejected the SP Group's claim for proportional representation on the Board, and upheld the validity of Article 75 of the Articles of Association. The application for separation of ownership interests by the SP Group was also dismissed. Case-Laws Companies Law Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405853