Bench headed by Chief Justice of India SA Bobde assembles.
Hearing commences.
@tatatrusts @TataCompanies
TATA v MISTRY
Hearing to resume today in Supreme Court. Senior Advocate CA Sundaram to continue arguments on behalf of Shapoorji Pallonji firms.
Follow this thread for live updates from court.
@tatatrusts @TataCompanies
#SupremeCourt #tatamistry
Bench headed by Chief Justice of India SA Bobde assembles.
Hearing commences.
@tatatrusts @TataCompanies
CJI SA Bobde announces that over the weekend he discovered his son who is practicing in Mumbai has been appearing for the last 2 years in a slum rehabilitation matter for a subsidiary company of Shapoorji Pallonji group.
@tatatrusts
CJI asks whether Harish Salve, Dr Singhvi or CA Sundaram has any objections to CJI hearing the matter.
None of them object. The same is recorded by the Court.
Hearing continues.
#SupremeCourt
CJI says such issues could cause potential problems in future.
Sundaram continues with his arguments.
@tatatrusts @TataCompanies
Sundaram citing Articles of Tata Sons to show the supremacy of the Board.
Article 121A was introduced to ensure that certain matters had to necessarily have Board approval.
#SupremeCourt #TataSons
SP group also voted in favour of A 121 due to the relationship of trust they had with Tata Sons.
SP group could not have conceived that the article would be used against them: Sundaram.
#tatasons #SupremeCourt
Discussion on interest that Ratan Tata had in Ola/ Uber
Sundaram says he had a personal interest in Ola
CJI Bobde: Does it mean he had business interest
Dr. Singhvi says he wanted to have Tata cars used in Ola and Uber and not just Ola as suggested by Mistry
CJI Bobde: Mr. Sundaram, you must bear in mind that this is a private company. Our experience with such companies is that they have heads of families controlling, giving directions etc. Birlas, Tata all have such structures.
Your SP Group might also have it.
CJI Bobde: What is wrong in head of family wanting information or wanting to control decisions.
@tatatrusts
@TataCompanies
Sundaram: This company owns many listed companies running to 65 lakh crores with public shareholders. So there should be some kind of independence in decision making.
If they wanted to keep a family affair, they should have remained so instead of making it public
A public charitable trust cannot legally run such companies. That is why it needs it be "board run": CA Sundaram.
@tatatrusts @TataCompanies
#SupremeCourt
They cannot use the Articles to claim that they have absolute right over affairs of the company: CA Sundaram
Bench rises. Hearing to continue tomorrow.
@tatatrusts
#TataSons #SupremeCourt
#TataSons @tatatrusts @TataCompanies @RNTata2000
#cyrusmistry
https://t.co/gMD5CxzO66
More from Bar & Bench
More from Law
1/ After a good night's sleep, I have a few thoughts on the impending Ripple lawsuit.
Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB
2/ First of all, the USG is going to lose.
I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.
Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their
3/ Second, the USG should lose.
The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.
I hope Ripple wins. (WUT?)
4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.
I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.
So we're effectively in this together.
5/ We're "in this together" to draw lines of regulatory demarcation.
XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.
XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.
Less schadenfreude, more "what now?" https://t.co/a0oTwblBHB
BREAKING: The @SEC_News intends to sue @ripple over its sale of XRP, alleging the cryptocurrency is an unregistered security according to @bgarlinghouse.@nikhileshde reportshttps://t.co/7Z3KSWk7dn
— CoinDesk (@CoinDesk) December 22, 2020
2/ First of all, the USG is going to lose.
I don't even need to read the complaint. They might force a settlement, but they're outclassed on legal.
Remember Ripple engaged former SEC Chair Mary Jo White in a civil matter in 2018. A hint of their
3/ Second, the USG should lose.
The SEC restrictions on non-accredited investors; the ridiculous Howey test; 80 year old securities law like the "40 Act" all need to die in fire. They are un-American and completely outdated.
I hope Ripple wins. (WUT?)
4/ Third, it's incumbent upon industry to self-police and hold the moral high ground.
I give certain individuals A's and others F's, but as a whole, the most powerful people and companies generally take a Swiss neutrality stance on assets.
So we're effectively in this together.
5/ We're "in this together" to draw lines of regulatory demarcation.
XRP as a "security" further hurts the U.S. businesses while global comps will continue to make these markets.
XRP as a security also means other assets will meet the same fate. At least Ripple has $ to fight.
One of the judges this story mentions is William Cassidy, who was promoted from an Atlanta IJ position to a BIA member position in 2019 by the Trump DOJ. Cassidy has an awful history that has been well-documented, but I'm still enraged reading this reporting.
The story notes that the EOIR Director served as an ICE attorney in Atlanta and practiced before Cassidy for years. And it points to FOIA records unearthed by Bryan Johnson showing they remain friendly.
A trove of complaints against Cassidy was published by AILA in 2019 after FOIA litigation. They generally show misconduct, substantiated in the record, followed by "written counseling" etc.
One way Cassidy could avoid discipline is by turning off the recording device during the hearing. If he made a lewd or offensive comment off the record, all the EOIR would do is listen to the recording. If it's not there, the complaint is "unsubstantiated" https://t.co/wUeBPEEbpV
In that case, Cassidy joked about a detained immigrant saying he missed his wife. The complaint was dismissed because the ACIJ found "no levity or joking" in the comment.
\U0001f6a8New investigation: \U0001f6a8
— Tal Kopan (@TalKopan) January 22, 2021
How sexual harassment and misconduct has been allowed to flourish in the immigration courts, a system intended to give immigrants a fair chance to stay in the U.S.:https://t.co/Lw8hpK5jSe
The story notes that the EOIR Director served as an ICE attorney in Atlanta and practiced before Cassidy for years. And it points to FOIA records unearthed by Bryan Johnson showing they remain friendly.
A trove of complaints against Cassidy was published by AILA in 2019 after FOIA litigation. They generally show misconduct, substantiated in the record, followed by "written counseling" etc.
One way Cassidy could avoid discipline is by turning off the recording device during the hearing. If he made a lewd or offensive comment off the record, all the EOIR would do is listen to the recording. If it's not there, the complaint is "unsubstantiated" https://t.co/wUeBPEEbpV
In that case, Cassidy joked about a detained immigrant saying he missed his wife. The complaint was dismissed because the ACIJ found "no levity or joking" in the comment.
Some WESC submissions that are worth a read....(my thread of bookmarks)
Judge Paula Grey is president of the Gender Recognition Panel
She doesn't make any recommendations, but she sets out how the process currently works
Which chimes with my analysis of the GRP User Panel and statistics https://t.co/XixEz7lNJv
She is also co-author if the Equal Treatment Bench Book and writes about how the judges are trained by Gendered Intelligence
There is the government's own response
https://t.co/bOn9XecAkz
On single sex spaces they say the law is clear that service providers are able to restrict access to spaces on the basis of biological sex where there is clear justification.
The response from @womensaid is significant.
Their members want trans survivors to get support they need but not by undermining their ability to serve women with female staff & female only services
They highlight lack of clarity
https://t.co/p7096sZcos
This was their position in 2015
They have moved on alot - they have been consulting with members since last year, and have had the courage to say what their members told them, not what Stonewall wanted to
Judge Paula Grey is president of the Gender Recognition Panel
She doesn't make any recommendations, but she sets out how the process currently works
Which chimes with my analysis of the GRP User Panel and statistics https://t.co/XixEz7lNJv
She is also co-author if the Equal Treatment Bench Book and writes about how the judges are trained by Gendered Intelligence
There is the government's own response
https://t.co/bOn9XecAkz
On single sex spaces they say the law is clear that service providers are able to restrict access to spaces on the basis of biological sex where there is clear justification.
The response from @womensaid is significant.
Their members want trans survivors to get support they need but not by undermining their ability to serve women with female staff & female only services
They highlight lack of clarity
https://t.co/p7096sZcos
This was their position in 2015
They have moved on alot - they have been consulting with members since last year, and have had the courage to say what their members told them, not what Stonewall wanted to
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MASTER THREAD on Short Strangles.
Curated the best tweets from the best traders who are exceptional at managing strangles.
• Positional Strangles
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How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
• Exit
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr
• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Curated the best tweets from the best traders who are exceptional at managing strangles.
• Positional Strangles
• Intraday Strangles
• Position Sizing
• How to do Adjustments
• Plenty of Examples
• When to avoid
• Exit Criteria
How to sell Strangles in weekly expiry as explained by boss himself. @Mitesh_Engr
• When to sell
• How to do Adjustments
• Exit
1. Let's start option selling learning.
— Mitesh Patel (@Mitesh_Engr) February 10, 2019
Strangle selling. ( I am doing mostly in weekly Bank Nifty)
When to sell? When VIX is below 15
Assume spot is at 27500
Sell 27100 PE & 27900 CE
say premium for both 50-50
If bank nifty will move in narrow range u will get profit from both.
Beautiful explanation on positional option selling by @Mitesh_Engr
Sir on how to sell low premium strangles yourself without paying anyone. This is a free mini course in
Few are selling 20-25 Rs positional option selling course.
— Mitesh Patel (@Mitesh_Engr) November 3, 2019
Nothing big deal in that.
For selling weekly option just identify last week low and high.
Now from that low and high keep 1-1.5% distance from strike.
And sell option on both side.
1/n
1st Live example of managing a strangle by Mitesh Sir. @Mitesh_Engr
• Sold Strangles 20% cap used
• Added 20% cap more when in profit
• Booked profitable leg and rolled up
• Kept rolling up profitable leg
• Booked loss in calls
• Sold only
Sold 29200 put and 30500 call
— Mitesh Patel (@Mitesh_Engr) April 12, 2019
Used 20% capital@44 each
2nd example by @Mitesh_Engr Sir on converting a directional trade into strangles. Option Sellers can use this for consistent profit.
• Identified a reversal and sold puts
• Puts decayed a lot
• When achieved 2% profit through puts then sold
Already giving more than 2% return in a week. Now I will prefer to sell 32500 call at 74 to make it strangle in equal ratio.
— Mitesh Patel (@Mitesh_Engr) February 7, 2020
To all. This is free learning for you. How to play option to make consistent return.
Stay tuned and learn it here free of cost. https://t.co/7J7LC86oW0