Noel Tata confirms Tata Trusts hasn't agreed Tata Sons listing
Tata Trusts has not agreed to the listing of Tata Sons, the company that sits at the top of the Tata Group.
Chairman Noel Tata confirmed the move, saying it's important to keep Tata Sons' more than a century old structure of Tata Sons and Tata group intact.
Instead of going public, the board discussed finding other ways to meet regulatory requirements after RBI communication discussed at the Sept. 17 board meeting and the central bank rejected its application to surrender its CIC registration.
N Chandrasekaran reappointed Tata Sons chairman
Since RBI rejected their request to stop being classified as a Core Investment Company (CIC), Tata Sons is now exploring all possible options to stay compliant with regulations.
Meanwhile, N Chandrasekaran was reappointed as chairman for another five years, even though not everyone agreed.
The company plans to work closely with RBI, Tata Trusts, and others as they figure out their next steps.