New Delhi, Sept. 17 -- The board of directors of Tata Sons will meet on Thursday to discuss ways to comply with the Reserve Bank of India (RBI) mandatory listing directives. The RBI's refusal to relax listing rules for Tata Group's holding company has turned what was meant to be a routine board meeting into a high-stakes discussion on the way forward.

According to stock market experts, after the RBI's refusal to relax the listing rules for Tata Sons, the Tata Group's holding company has only three ways out: first, to follow the mandatory listing directives by the RBI; second, to look for a legal review of the RBI's directives; and third, to go for the business division and reduce the balance sheet of the company.

Speaking on the possibl...