Nusli Wadia on Friday filed a criminal defamation case against Tata Sons and Ratan Tata, just hours Tata Motors shareholders voted in favour of his removal as director. According to reports by ET Now, Ishaat Hussain, at the Tata Chemicals Extraordinary General Meeting (EGM) accused Nusli Wadia of acting in concert with Cyrus Mistry. Hussain also said that all the allegations made by Wadia in the past were baseless. Today, Tata Motors shareholder’s voted in favour of Wadia’s removal as director. This comes two days after the Tata Steel members voted by 90.80 percent in favour of a resolution to remove Nusli Wadia from the office of the director of the company, with immediate effect.

As he did with the EGM of Tata Steel on Wednesday, Wadia’s statement was read out to the shareholders, in which he had accused the company of mismanagement while staying to his line that the Tata Group is stage-managing all such meetings by stepping on the voices of dissent. Meanwhile, yesterday, the National Company Law Tribunal, where ex-Tata group chairman Cyrus Mistry had moved a day before, alleging bad practices, oppression and mismanagement on the part of Tata conglomerate, refused to provide any interim relief to him.
A division bench of NCLT comprising B S V Prasad Kumar (member-judicial) and V Nallasenapathy (member-technical) decided to hear his petition on January 31 and February 1 next year. While asking the parties to file their replies, the bench said that instead of hearing the parties on the point of interim relief, it would hear the matter and give an order it in about a month. In a statement later, Tata Sons said that it believes that the appeal is not maintainable in law and the court will hear it on this issue at the outset at the next hearing.
Source:http://www.financialexpress.com

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