Hope RBI, Tata Sons will review proposal to avoid listing: Noel Tata

Noel Tata, Chairman of Tata Trusts and a Director of Tata Sons. (Express Photo)

Tata Trusts Chairman Noel Tata on Tuesday made a fresh pitch to the Reserve Bank of India (RBI) and Tata Sons to find a way to avoid listing the holding company, arguing that a public listing could fundamentally alter the way the Tata group has been run for 150 years and dilute its social-development mandate.

“Yesterday, we sent a proposal or a solution… a possible solution to Tata Sons which, in our view, fits within the existing guidelines of the Reserve Bank. We would like Tata Sons to review it and, if necessary, modify it and engage with the RBI, as we believe that this is a solution which would enable us to avoid listing,” he said.

“I hope the RBI will engage with us on this subject and we should be able to find some common ground and, hopefully, a solution which avoids us from listing,” Noel Tata said at an event organised by Republic TV.

“It really is a solution. It’s not rocket science. It’s a solution that takes us back to our roots,” he said.