Shapoor Mistry backs RBI order tightening Tata Sons's financial rules
Shapoor Mistry, head of the Shapoorji Pallonji Group (which holds about 18.4% in Tata Sons), is supporting the Reserve Bank of India (RBI) order that tells Tata Sons to follow stricter financial rules.
This comes after Tata Sons's request to change its investment status was turned down.
Mistry says the move will make things more transparent and accountable at one of India's biggest business groups.
Shapoor Mistry backs Tata Sons listing
Mistry also thinks taking Tata Sons public would seriously improve how it's run and help with its charitable goals.
He called this, "It can become landmark evolution Indian corporate governance, affirmation scale heritage coexist transparency; philanthropy coexist public accountability; great private institutions evolve step aspirations great nation." and said he's ready to work with Tata Sons on these changes.
The RBI order might also give a boost to the long-standing partnership between his group and Tata, keeping their legacy of responsible business going strong.