Tata-Mistry Case, Harish Salve in Court appearing for the Tata Group
• Mistry's 18% holding would be between Rs 70,000-80,000 crore
• Don't think the language of Sec 242 of the Companies Act admits of any kind of ambiguity
• The market cap of the Tata Group rose by over 500x under Ratan Tata
Both the parties have billions of dollars' worth interests at stake. Mistry wants to protect his family's shareholding of 18.37 per cent in the holding company Tata Sons, while Tata targets to block the re-entry of Mistry in the group in any roles.
Earlier, Mistry said that his fight is not for the executive chairmanship of Tata Sons or the directorship in any Tata companies. "I will however vigorously pursue all options to protect our rights as a minority shareholder, including that of resuming the thirty-year history of a seat at the board of Tata Sons and the incorporation of the highest standards of corporate governance and transparency at Tata Sons," he said.
