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The Tatas v Cyrus dispute: A handy timeline from 7 December to now...

Anil Padmanabhan (@capitalcalculus) tweeted: "For those who came in late... #TataMistry spat: The journey from boardroom to courtroom"

Tata-Mistry spat: The journey from boardroom to courtroom

Marked by war of words, allegations and counter allegations, the two-and-half month-long bitter feud between Tata Sons and its ousted chairman, Cyrus Mistry, which emanated from a conflict between two personalities in the boardroom, has now morphed into a full-fledged legal wrangling. Since December, altogether six lawsuits have been filed by different stakeholders of the $103 billion conglomerate.

Here’s a quick wrap of the legal rounds:

11 January: The Mistry family firms file a contempt of court petition against Tata Sons, Cyrus Investment Pvt Ltd and Sterling Investment Corp Ltd, which together hold around 18.5% of ordinary share capital in Tata Sons. The Mistrys filed a contempt of court petition at the National Company Law Tribunal to refrain Tata Sons from holding the extraordinary general meeting to remove Cyrus Mistry as the director. The holding company of the Tata group has scheduled the meeting for 6 February after being requisitioned by four Tata trusts. The petition claims that Tata Sons calling the extraordinary general meeting (EGM) violates the undertaking given by its lawyers when the NCLT heard an earlier petition filed by the investment firms on 22 December. The petition sought punishment including simple imprisonment for a term which may extend to six months, or a fine which may extend to Rs2,000, or both, for contempt of court by all those involved, including Tata Sons’ interim chairman Ratan Tata, directors of the holding company and some trustees of Tata Trusts.

Keep reading at Mint (6 more paragraphs) | Desktop version

As we recently reported, at least four law firms - Desai & Diwanji (for Mistry), and Karanjawala & Co, Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas (for the Tatas) have been roped in.

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