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To avert listing, Noel submits Tata Sons revamp plan to RBI - The Times of India

Weeks after Reserve Bank of India directed Tata Sons to comply with upper-layer NBFC-CIC norms, Tata Trusts chairman Noel Tata has proposed merging two subsidiaries, Tata Electronics Systems (TES) and Tata Consulting Engineers (TCE), with the 109-year-old holding company to take it outside the RBI's regulatory ambit and avoid a public listing.

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RBI closes the window on Tata Sons to avoid a potential listing | Company Business News

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