Mumbai, Sept. 16 -- Tata Trusts which controls 66% of the Tata Group holding company Tata Sons, which has been classified by the Reserve Bank of India (RBI) as an Upper Layer non-banking finance company (NBFC), is keen to avoid listing Tata Sons on the stock exchange, and is hence exploring all legal options to avoid a listing, sources said on Wednesday.
The development comes after the RBI filed a caveat petition in the Bombay High Court on Tuesday regarding the rejection of Tata Sons' application to voluntarily surrender its Core Investment Company (CIC) registration.
According to sources, Tata Trusts wants to explore all options, including asking the RBI to reconsider and clarify its decision directing it to list on the stock exchange, ...