India’s Chief Justice Sharad Arvind Bobde, who led the bank that heard the high-stakes Tata-Mistry case, revealed on Monday that his lawyer son, Shrinivas Bobde, is a subsidiary of the Shapoorii Pallonji group in a redevelopment affair. of the slums for about two years. .
The higher court has cross-appeals filed by Tata Sons and Cyrus Investments against the NCLAT order of the appellate court that reinstated Cyrus Mistry as chief executive of the $ 100 billion Tata conglomerate.
A bench of Chief Justice and Judges AS Bopanna and V Ramasubramanian asked the lawyers who appeared for both Tata Group and SP Group if they had any objections to the disclosure.
Senior lawyers Harish Salve, who appeared for Tatas and CA Sundaram, representing the SP Group, said they had no objection to the hearing of the chief judge who heard the matter, which continued on the fourth day.
Over the weekend, I learned that my son, who is in Bombay, has been appearing for a subsidiary of SP Group in a matter of redeveloping the slums for about two years. I was thinking of disclosing it to the parties if any of you object to this court hearing the case, said the Chief Justice of India.
Mr Salve said he himself had appeared on the same issue and had no objection to the IJC-led bank hearing the case.
Mr Sundaram also agreed with Mr Salve and said that they all apply to some companies or to others and he also has no objections.
The Chief Justice of India said that these days such problems can create problems at a later stage.
The bank noted in its order on Monday that when the matter was raised for hearing, this court revealed to the Bar that Shrinivas Bobde, a learned lawyer, had appeared on behalf of a subsidiary of the Shapoorii Pallonji group in Mumbai in a matter concerning rehabilitation of slums for about two years.
It was stated: “The main lawyer / lawyer appearing for the parties, respectively, Harish N. Salve, AM Singhvi, CA Sundaram, Mohan Parasaran, Shyam Divan, Fereshte D. Sethna, etc., stated that they had no objection to this. . The court that decides the current issues. “
The bank stated that the joint statement made by the lawyer appearing for the parties is registered.
Mr Sundaram, who resumed his arguments, referred to various legal provisions and decisions relating to the liquidation of companies.
The hearing remained inconclusive and will continue today.
Earlier, Tata objected as “nonsense” to the Shapoorii Pallonji Group’s proposal that its 18.37 percent stake in Tata Sons, which it claims is worth 1.75 lakhs, be exchanged for shares in Tata Group’s listed companies.
Shapoorii Pallonji Group is looking for proportionate shares in the listed companies of the Tata group instead of its 18.37 shareholding in Tata Sons Private Ltd (TSPL), the holding company of the group companies.
Earlier, Tata told the court that the valuation of 18.37 percent shares held by Shapoorii Pallonji Group in Tata Sons is between 70,000 and 80,000 lei.
Shapoorii Pallonji Group, however, said it was worth 1.75 rupees.
(Except for the title, this story was not edited by NDTV staff and is published in a syndicated stream.)