Shapoorji Pallonji Group chairman Shapoorji Pallonji Mistry backs a public listing of Tata Sons as Tata Trusts opposes the move and the holding company begins steps to comply with RBI rules
Shapoorji Pallonji Group chairman Shapoorji Pallonji Mistry has backed a public listing of Tata Sons, calling it a “social and moral imperative” as the Tata Group holding company moves towards compliance with Reserve Bank of India rules.
Mistry, whose group owns about 18.37 per cent of Tata Sons, welcomed the RBI’s decision to reject the company’s application to surrender its registration as a Core Investment Company.
In a statement on Friday, Mistry said he received the RBI decision with “deep respect and profound humility” and thanked the central bank and the government. He also expressed admiration for Prime Minister Narendra Modi’s leadership.
(This is a developing story. Please check back for updates.)