Tata Sons explores legal options amid RBI finance company rules
Business
Tata Sons is exploring legal options to avoid being forced into a stock market listing. This comes after the Reserve Bank of India (RBI) told it to follow stricter finance company rules.
The board is reviewing a proposal from Tata Trusts, but it hasn't been formally approved yet.
Tata Trusts propose 2-group merger
Tata Trusts, which own most of Tata Sons, want to merge two group companies, Tata Electronics Systems Solutions and Tata Consulting Engineers, into Tata Sons.
They hope this move will help keep the company private by changing its regulatory status and boosting its income, possibly letting them sidestep those tough RBI requirements.