Tata Trusts asks Tata Sons to approve rejig proposal, keep it private
The Tata Trusts has outlined a reorganisation of Tata Sons, the holding company of Tata Group companies which when given effect would ensure it would neither be a non-banking financial company or a core investment company.
Via YourStory
A statement from Tata Trusts said it has already written to the Tata Sons Board to consider and approve the proposal. It further asked Tata Sons board to take necessary steps including applying to the Reserve Bank of India for the necessary “no-objection certificate” for the reorganisation.
The Tata Trusts hold 66% stake in Tata Sons.
Tata Trusts said the proposed reorganisation essentially entails the merger of “Tata Electronics Systems Solutions Private Limited’ (TESS) and ‘Tata Consulting Engineers ‘(TCE) with…
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