SP Group renews call for listing of Tata Sons

FROM THE FRONT PAGE

- 

THE DISPUTE HAS pitted Tata Trusts Chairman Noel Tata against a four-memberblocled by Mehli Mistry.

Shapoorji Mistry said the Reserve Bank of India (RBI) on which it has “full faith” should act on its September 30 deadline of complying with the scale-based regulatory framework which clearly articulates that “a non-banking financial company (NBFC) should not act in amanner detrimental to the interests of its investors”.

The RBI had earlier classified Tata Sons as an upper-layer NBFC, a label that requires it to go public. Some of the Tata trustees worry that an IPO would erode their veto rights and expose the company to takeover risks and stricter governance rules.