Ramana and Justice A.S. Bopanna, who was incidentally part of the earlier bench which decided the case, said that they were allowing the applications for an oral hearing of the review petitions.
But the third judge on the bench, who was also party to the original judgement, V. Ramasubramanian, disagreed with their view.
He said that he did not find any valid reason to review the judgement and that they ought to be dismissed.
The court had heard the reviews in chamber on Feb 15 but the order was uploaded only today.
Cyrus Investments Pvt Ltd had sought a review of a March-2021 ruling dismissing all pleas of the Shapoorji Pallonji Group over Mistry’s removal. The Mistrys have also filed a review plea.
A bench led by former Chief Justice of India SA Bobde had in March last year dismissed all contentions of the SP Group led by the Mistrys for his reinstatement.
The National Company Law Appellate Tribunal had in December 2019 ordered Mistry’s reinstatement, overturning the NCLT order refusing to so so, but the top court set aside the NCLAT order.
The top court had also rejected Mistrys’ claim of the rights of the minority shareholders being violated.
Justice Bobde has since demitted office. So, the review, which always goes to the same bench, was placed before a bench led by Ramana.
The
order for
Mistry’s reinstatement was illegal, the top court had held in March last year.
The stage for the high-stakes litigation was set in October 2016 when Mistry was removed by a majority of the board of directors at Tata Sons. N Chandrasekaran was then brought in as executive chairman.
The Mistrys in their review plea argued that the judgement was riddled with errors and had virtually destroyed the rights of the minority shareholders as guaranteed by the Companies Act.
There were several contradictions in the ruling and it must be reviewed, the review plea said.
The Mistrys hold an 18.4% stake in Tata Sons, the holding company of the Tata Group.
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