Walking a tightrope: 5 hurdles facing Noel Tata and an unlisted Tata Sons

5 hurdles facing Noel Tata and an unlisted Tata Sons

Noel Tata’s plan to keep Tata Sons private faces five hurdles, the steepest of which is a Reserve Bank of India (RBI) that has already refused to release the group’s holding company from its rules. The chairman of Tata Trusts has proposed merging Tata Electronics Systems Solutions and Tata Consulting Engineers into Tata Sons, a move designed to take the holding company outside the RBI’s upper-layer NBFC and Core Investment Company regulations, and so avoid a public listing.