Indian Chief Justice Sharad Arvind Bobde, who ran the bank on Monday and tried the high-profile Tata-Mistry case, announced that his attorney son Shrinivas Bobde has been representing a subsidiary of the Shapoorji Pallonji Group in a slum redevelopment case for about two years.
The Supreme Court is negotiating by Tata Sons and Cyrus Investments against the NCLAT Court of Appeal order restoring Cyrus Mistry as executive chairman of the over $ 100 billion salt-to-software Tata conglomerate.
A bench of the Chief Justice and Judges AS Bopanna and V Ramasubramanian asked lawyers from Tata Group and SP Group if they objected to the disclosure.
Senior lawyers Harish Salve, who stood for Tatas and CA Sundaram and represented the SP Group, said they had no objection to the Chief Justice-run bank, which heard the matter and which went on for day four.
At the weekend I learned that my son had been performing in Bombay for a subsidiary of the SP Group on a slum rehabilitation project for about two years. I thought of communicating to the parties in case any of you have any objections to this court hearing the case, said the Indian Chief Justice.
Mr. Salve said that even he had appeared on the same matter and that he did not mind the CJI-run bank negotiating the case.
Mr Sundaram also agreed with Mr Salve, saying that they all appear for some companies or the others and he has no objection either.
The Chief Justice of India said that nowadays such problems may cause problems at a later date.
The bank, which was noted in its ruling on Monday when the matter was raised for a hearing, told the Bar Association that Shrinivas Bobde, a veteran attorney, has appeared on a matter on behalf of a subsidiary of the Shapoorji Pallonji Group in Mumbai related on the rehabilitation of slums for about two years.
It read: “Senior Counsel / Counsel appearing for the parties, namely Harish N. Salve, AM Singhvi, CA Sundaram, Mohan Parasaran, Shyam Divan, Fereshte D. Sethna etc. have stated that they do not mind the court ruling on the matters at hand. “
The bank said the joint statement from an attorney appearing on behalf of the parties will be recorded.
Resuming his arguments, Mr Sundaram referred to various legal provisions and judgments relating to the liquidation of the companies.
The hearing remained inconclusive and continues to this day.
Previously, the Tatas had considered the Shapoorji Pallonji Group’s proposal to swap the 18.37 percent stake in the Tata Sons, which is allegedly worth 1.75 billion rupees, for shares in the listed companies of the Tata Group, declined.
The Shapoorji Pallonji Group is seeking proportional shares in the listed companies of the Tata Group instead of its 18.37 stake in Tata Sons Private Ltd (TSPL), the holding company of group companies.
The Tatas had previously informed the court that the valuation of 18.37 percent of the shares in Shapoorji Pallonji Group in Tata Sons was between 70,000 and 80,000 rupees.
However, Shapoorji Pallonji Group said it was worth 1.75 lakh crore.
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