New Delhi, Sept. 18 -- M&A lawyer Nitin Potdar has questioned the Reserve Bank of India's (RBI) authority to require Tata Sons to divest its shareholding or alter its ownership structure, saying the regulator's concerns over transparency could instead be addressed through stricter disclosure requirements.

In an exclusive conversation with ANI, Potdar said Tata Sons had applied to the RBI for deregistration as a Core Investment Company (CIC) after repaying Rs 20,000 crore to its lenders, but the application took around 28 months, during which RBI regulations changed three times.

He questioned why the RBI continued to insist on regulatory requirements for Tata Sons, arguing that under the Companies Act and existing regulatory framework, t...