Criminal Defamation Complaint filed against Mistry by Managing Trustee of Tata Trusts

The Mumbai Magistrate Court on Tuesday heard pre-summoning arguments in the criminal defamation complaint filed against former Tata Group chairman, Cyrus Mistry and six others, including his brother Shapoor Mistry..The complaint has been filed by R. Venkataraman, the Managing Trustee of Tata Trusts’, who is also a respondent in the widely reported oppression & mismanagement suit filed by Cyrus Mistry..After being ousted as the Chairman of Tata Sons, Mistry had initiated proceedings under Section 241 and 244 of the Companies Act, 2013 against Tata Sons and 22 others at the Mumbai Bench of NCLT in December, 2016. After several rounds of arguments at the NCLT, which lasted for nearly four months, the case was held not maintainable and a waiver also not granted. While the appeal against the NCLT order is pending with the NCLAT, Venkataraman has moved this suit in his personal capacity..This is the second attack launched from Tata Camp; first one being a complaint filed by Tata Sons to SEBI against Mistry for (alleged) insider trading..The Criminal Complaint was filed on the basis of certain statements made by Mistry which have been viewed as defamatory. In the suit filed by Mistry with the NCLT, Venkatraman was accused by Mistry of having played a primary role in the alleged “Air Asia fraud”, which had revealed fraudulent transactions to the tune of ₹22 crores.Additional Chief Metropolitan Magistrate Krishna Paldewar issued notices to the accused — the Mistry brothers and directors of their companies, Cyrus Investments Pvt Ltd and Sterling Investments Pvt Ltd — directing them to appear before the court and execute bail bonds. The next hearing is scheduled for August 24..The magistrate’s court upheld arguments of Venkat’s counsel that Article 21 of the Constitution on right to life is inclusive of the right to live with dignity and that a millionaire and Mason are equal in the eyes of law under Article 14 — which provides for equality before the law and equal protection..The criminal complaint was filed by MZM Legal, and was assisted in the matter by Shardul Amarchand Mangaldas and Karanjawala & Co.. Karanjawala & Co. was represented by Partner Sandeep Kapoor, along with Principal Associate Vir Inder Pal Singh Sandhu and Senior Associate Karan Seth.