To avert listing, Noel submits Tata Sons revamp plan to RBI
Noel Tata submitted a revamp plan for Tata Sons to the Reserve Bank of India to avoid a public listing. The proposal involves merging Tata Electronics Systems and Tata Consulting Engineers with Tata Sons, aiming to sidestep RBI's upper-layer NBFC-CIC norms. This move follows the Tata Sons board's earlier preference for a listing to comply with regulatory requirements.