New Delhi, Sept. 29 -- The chairman of Tata Trusts said on Tuesday the charity's proposed reorganisation of Tata Sons complies with Reserve Bank of India guidelines and could spare the salt-to-software conglomerate a stock market listing.

Tata Trusts, which owns 66% of Tata Sons, on Monday proposed merging two Tata Group companies with the holding company, as the charity seeks to sidestep a Reserve Bank of India requirement that Tata Sons list its shares.

"We hope the Reserve Bank of India will engage with us on this and find a solution to avoid listing," Noel Tata, chairman of Tata Trusts, said at an event by Indian television channel Republic TV.

The proposal follows an unusually public rift between Tata Trusts and Tata Sons, with th...