Amid Tata group power struggle, Shapoor Mistry backs RBI's call on Tata Sons listing
Mistry’s family-owned Shapoorji Pallonji Group holds about 18.4% in Tata Sons. He said the RBI decision had brought “full clarity” and expressed his intention to work constructively with Tata Sons and the Tata Trusts on the holding company’s future.
Shapoor Mistry, Chairman of the Shapoorji Pallonji Group, has welcomed the Reserve Bank of India's decision requiring Tata Sons to comply with regulations applicable to upper-layer non-bank financial companies. Mistry, whose family-owned Shapoorji Pallonji Group holds about 18.4% in Tata Sons, described the move as a potential turning point for greater transparency and accountability at the Tata group’s holding company.
The RBI's decision, which came after rejecting Tata Sons' request to surrender its registration as a core investment company, sets the company on a path toward a public listing after years of efforts to remain privately held. Mistry emphasized that the listing can become a bridge between shareholders and the Tata Trusts, as well as between private ownership and public accountability, while also reinforcing governance and establishing a more durable flow of value to the charitable activities of the Tata Trusts.
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