RBI files caveat after rejecting Tata Sons bid to avoid listing, source says
MUMBAI: The Reserve Bank of India (RBI) — the country’s central bank and banking regulator — has pre-emptively approached the courts seeking to be heard in any matter filed related to the listing of Tata Sons, a source directly familiar with the matter said. The move follows the RBI’s rejection of Tata Sons’ application to deregister as a non-banking financial company (NBFC), a decision that…
The Reserve Bank of India (RBI), the country's central bank and banking regulator, has filed a caveat in the Bombay High Court seeking to be heard in any matter related to the listing of Tata Sons. This move comes after the RBI rejected Tata Sons' application to deregister as a non-banking financial company (NBFC), bringing the holding company closer to a stock market listing.
According to a source familiar with the matter, the RBI filed the caveat as a routine measure to ensure it can be heard if a petitioner challenges its decision or seeks a stay. The RBI and Tata Sons did not comment on the development.
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