The Mistry household is exploring all choices, together with submitting a evaluation petition and looking for a authorized recourse, to find out the worth of the stake they maintain in Tata Sons.
“All choices are being mentioned. There’s a view that the Supreme Court docket might not have addressed all of the questions raised by Cyrus Mistry in his petition. Then again, a evaluation petition may be very not often upheld,” stated a supply near the Mistry camp. A choice of the Supreme Court docket or Excessive Court docket could be reviewed in a evaluation petition, and beneath the apex courtroom’s guidelines it must be filed inside 30 days of judgment. The petition could be filed if there’s prima facie proof of obvious errors within the judgment, authorized specialists stated.
Additional, the petition should be submitted with out oral arguments to the identical Bench that pronounced the order. “As of now, it seems to be like full and ultimate settlement of the case, which began in 2016. To file a evaluation petition is tough, however not unattainable,” stated one of many legal professionals.
Individually, even after the dismissal of a evaluation petition, the Supreme Court docket would think about a ‘healing petition’ with a purpose to forestall abuse of legislation and gross miscarriage of justice.
Stake valuation
Sources stated the Mistry household’s focus might be extra on the valuation of the stake held on Tata Sons.
Sushmita Gandhi, Associate, IndusLaw, stated: “The valuation of the shares of SP Group relies upon upon the worth of the stake of Tata Sons in listed equities, unlisted equities, immovable belongings and so forth., and in addition maybe the funds raised by SP group on the safety/pledge of those shares. Subsequently, it’s to be seen what recourse SP Group would take to trigger Tata Group to purchase them out at this juncture.”