Supreme Court Reserved Verdict In Tata-Mistry Case

Supreme Court reserved verdict in Tata-Mistry case, know about the details of the whole case.

The Supreme Court reserved judgment on the petitions of Tata Sons Private Limited and Cyrus Investments Private Limited.

Tata Sons had filed a petition challenging the decision of the National Company Law Appellate Tribunal (Eclat).

Cyrus Investments filed a petition against Tata’s petition. A three-member bench headed by Chief Justice SA Bobde heard the case.

On December 18 last year, the NCLAT ruled that Mistry be reinstated as the executive chairman of Tata Sons. On 10 January, the apex court granted a major relief to the Tata group, staying the NCLAT judgment.

On 29 May, the court sent a notice to Tata Sons and others on the cross-appeal of Cyrus Investments.

During the hearing, Cyrus Mistry’s Shapoorji Pallonji Group claimed that the rules were violated in October 2016 in the case of Mistry’s removal from the post of Chairman of Tata Sons.

At the same time, Tata says that nothing wrong has been done in this process.

Mistry replaced Ratan Tata as chairman of Tata Sons in 2012. However, Mistry was removed from the post on 24 October 2016 after the move.

Tata Sons had earlier informed the apex court that it was not a ‘two group’ company and there was no ‘quasi-partnership’ between it and Cyrus Investments Private Limited.

Mistry also filed an affidavit in the Supreme Court stating that the Tata group had a net loss of Rs 13,000 crore in 2019. He said that it was the biggest loss to the company in the last three decades.

Snapdeal partnered with NPCL for QR code-based payments

E-commerce company Snapdeal on Thursday said it has partnered with the National Payments Corporation of India (NPCI) to facilitate QR-based digital payments when buyers receive goods at their addresses.

The company said in a statement that the facility is exclusively for new customers, who are not comfortable paying first for goods while shopping.

According to the statement, customers will be given the option to pay with the QR code while taking goods to their address.

The facility will work with all UPI-payment options, including major private and public sector banks like HDFC, SBI and ICICI Bank linked to Bhima, Google Pay, WhatsApp Pay, PhonePe, Paytm, and UPI apps.

The company said that payments can also be made through cooperative banks and regional rural banks (RRBs).