Noel Tata seeks to keep Tata Sons private despite RBI
Noel Tata, who leads Tata Trusts, wants to keep Tata Sons private, even though the Reserve Bank of India (RBI) has brought it closer to a mandatory stock-market listing to meet rules governing upper-layer non-banking financial companies.
He's planning to ask the board why the RBI won't let them drop their core investment company status, arguing that following regulations doesn't have to mean going public.
Noel Tata opposes Chandrasekaran term extension
Noel isn't on board with giving Chandrasekaran another five-year term, even though most of the board supports it.
Instead, he's calling for a fresh selection process and a new leader, especially since Chandrasekaran himself seems hesitant about staying.
The debate highlights bigger questions about how big family-run companies in India plan for leadership changes and future direction.