Business Standard
Corporate governance advisory firm InGovern Research Services has urged the RBI to issue a clear directive to Tata Sons to initiate the listing process as an upper-layer NBFC by the March 2027 deadline, in accordance with its latest master directions. In a report, InGovern said the regulatory landscape has shifted significantly, and there is no remaining legal basis to provide an exemption from public listing to an entity of the magnitude of Tata Sons, a holding company controlling about Rs 1.75 lakh crore in assets. It also requested the RBI to issue a definitive public order rejecting Tata Sons' application for de-registration as a core investment company that was filed to avoid a public listing. Tata Sons' application filed in March 2024 to surrender its Certificate of Registration (CoR) as a Systemically Important Core Investment Company (CIC-ND-SI) is pending, InGovern said, adding that "this application has now been rendered substantively and procedurally deficient by the ...
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