Tata Trusts Chairman Noel Tata reportedly plans to veto any IPO listing for Tata Sons and has suggested seeking a three-year extension from the RBI.
Reader brief
Through the Reader lens: Tata Trusts Chairman Noel Tata informed the Tata Sons board that he will block any decisions to list India's largest company by revenue. He instead recommended that the holding company request at least a three-year extension from the Reserve Bank of India to meet regulatory guidelines. This position directly challenges Tata Sons' previous statements that the board had initiated steps to comply with the RBI's listing requirements.
What was said1
Attributed, verbatim. Every quote is checked against the article it came from. One that does not match is not shown.
Noel Tata
1 quote“start steps to follow the applicable RBI guidelines.”
In the article
…holding company ask the Reserve Bank of India (RBI) for at least three years to meet the requirements if a listing is eventually necessary. Noel’s statement challenges Tata Sons’ claim that its board had decided to “ start steps to follow the applicable RBI guidelines. ” Read More Teen gang-raped, found dead in Delhi A 16-year-old girl was allegedly gang-raped and murdered by a group of four teenagers – three of them minors – who dumped her body in a field in outer Delhi’s Swaroop…
Sources1
- [1]Hindustan TimesneutralHT Morning News Brief Sept 18: Noel Tata's push against IPO listing, DUSU elections today and more