Tata Sons on Tuesday filed caveat in Bombay high court and National Company Law Tribunal (NCTL) to prevent ousted chairman Cyrus Mistry from getting ex-parte order against his sacking.
“A caveat is a notice filed by a party fearing legal action seeking notice before action. Tatas have filed caveats seeking notice from Cyrus Mistry fearing legal action. Cyrus has not filed any caveats. He has already made a statement that such concerns are misplaced at this stage,” said Cyrus Mistry's Office after the media reports on Tuesday afternoon about the ousted Tata Sons chairman filing caveats in National Company Law Tribunal.
"Neither the SP Group nor Mr Cyrus Mistry have made any statement yet. While the circumstances are being studied, there is no basis to media speculation about litigation at this stage. As and when a public statement becomes necessary, it would be made," Shapoorji Pallonji also said in an emailed statement released on Tuesday.
In a sudden and dramatic turn of events, Mistry was sacked on Monday as chairman of India's largest conglomerate Tata Group.
After Mistry's ouster, interim chairman Ratan Tata also wrote a letter to PM Narendra Modi and his employees stating about the removal of Cyrus Mistry with immediate effect.
What is a caveat
A caveat is a legal notice to a court or public officer to suspend a certain proceeding until the notifier is given a hearing.