Chief Justice of India Sharad Arvind Bobde, who headed the bench after hearing the interesting Tata-Mistry case on Monday revealed that his lawyer son Shrinivas Bobde represents a subsidiary of Shapoorii Pallonji Group in a poor renovation affair for about two years. .
The Supreme Court hears cross-appeals filed by Tata Sons and Cyrus Investments against the NCLAT appellate court order, which restored Cyrus Mistry as the executive chairman of the more than $ 100 billion of salt to software Tata conglomerate.
Bench of the Chief Justice and Judges AS Bopanna and V Ramasubramanian asked the lawyers appearing for both Tata Group and SP Group if they have any objections with the disclosure.
Senior advocates Harish Salve, appearing for Tatas and CA Sundaram, representing SP Group, said they were not opposed to the chief judge leading a bench hearing the matter, which lasted for the fourth day.
Over the weekend, I found out that my son, who is in Bombay, has been appearing for a subsidiary of SP Group in a poor renovation affair for about two years. I was thinking of revealing it to the parties if any of you object to this court hearing the case, said the chief justice of India.
Mr Salve said even he appeared in the same matter and he has no objection with the CJI-led bench hearing the case.
Mr Sundaram also agreed with Mr Salve and said they all appear for some company or the others and he also has no objection.
India’s chief justice said that at present such matters may create problems later.
The bench noted in its order, on Monday, when the matter was heard, this Court revealed to the Bar that Shrinivas Bobde, an educated adviser, had appeared on behalf of a branch of Shapoorii Pallonji Group at Mumbai on a matter. about slum rehabilitation for about two years.
It said, “A senior adviser / adviser appearing for the parties viz., Harish N. Salve, AM Singhvi, CA Sundaram, Mohan Parasaran, Shyam Divan, Fereshte D. Sethna, etc., has stated that they are not opposed to this. deciding current affairs. “
The bench said the joint statement made by a lawyer appearing for the parties is recorded.
Mr Sundaram, who resumed his arguments, alluded to various legal provisions and judgments relating to liquidation of the companies.
The hearing remained inconclusive and will continue today.
Earlier, the Tata opposed as “nonsense” the Shapoorii Pallonji Group’s proposal that its 18.37 per cent stake in the Tata Sons, which it claims is worth 1.75 lakh hours, be exchanged for the shares in the listed companies of the Tata group.
Shapoorii Pallonji Group is looking for proportionate shares in Tata’s listed companies instead of its 18.37 share in Tata Sons Private Ltd (TSPL), the holding company of group companies.
Earlier, the Tata told the court that the valuation of 18.37 per cent shares owned by the Shapoorii Pallonji Group in Tata Sons is between Rs 70,000 crore and Rs 80,000 crore.
The Shapoorii Pallonji Group said, however, that it is worth 1.75 lakhs.
(Except for the headline, this story was not edited by NDTV staff and is published by a union stream.)