Mumbai, Sept. 15 -- The Reserve Bank of India (RBI) has filed a caveat petition in the Bombay High Court regarding the rejection of Tata Sons' application to voluntarily surrender its Core Investment Company (CIC) registration.
According to sources, this is an indication that the chances of Tata Sons avoiding a listing on the stock exchange has probably receded, and listing Tata Sons on the stock exchange is now probably more likely.
The caveat petition is intended to ensure that if a petitioner approaches the court, the RBI has a chance to present its case before any court order is issued.
The RBI has informed Tata Sons about the move.
The caveat petition was filed after the RBI rejected a request by Tata Sons request to surrender its ...