Tata Sons file multiple cavets in courts

In the latest development in the Tata vs Pallonji saga as per media reports Abhishekh Maushingvi will be representing Ratan Tata in the legal battle. It is believed that Tata Sons have filed multiple caveats in courts and every other forum in order to prevent any one-sided orders being passed against it by Cyrus Mistry or Shapoorji Pallonji Group . This caveat follows after one day of Cyrus Mistry being ousted as chairman of Tata Sons.

The caveat has been filed in the Mumbai High Court, the Delhi High Court and before the national companies law tribunal.

There has so far been no formal statement from either Cyrus Mistry or Shapoorji Pallonji group confirming of any legal action to be taken by the group against Tata Sons.

On Monday according to reports Cyrus Mistry had termed his ouster as illegal while arguing that he should be given a 15-day notice to make a case for himself. The development in the Tata Group is being discussed across the media and indeed has dominated the news section even as the earnings season is keeping traders busy at Dalal Street.

Tata Steel  (- 2.53 per cent) and Tata Motors (-1.07 per cent) are amongst the various Tata Group companies that shut shop in red on Tuesday.