{"id":25125,"date":"2026-09-16T22:11:02","date_gmt":"2026-09-16T22:11:02","guid":{"rendered":"https:\/\/koshalsambada.in\/?p=25125"},"modified":"2026-09-16T22:11:02","modified_gmt":"2026-09-16T22:11:02","slug":"at-board-meet-noel-tata-to-push-to-keep-tata-sons-private","status":"publish","type":"post","link":"https:\/\/koshalsambada.in\/?p=25125","title":{"rendered":"At board meet, Noel Tata to push to keep Tata Sons private"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-134296597,imgsize-34678,width-400,height-225,resizemode-4\/noel-tata.jpg\" alt=\"At board meet, Noel Tata to push to keep Tata Sons private\" title=\"Noel plans to argue that RBI\u2019s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<div class=\"Ta7d_ img_cptn\"><span title=\"Noel plans to argue that RBI\u2019s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares\">Noel plans to argue that RBI\u2019s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares<\/span><\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>MUMBAI: Tata Trusts chairman Noel Tata intends to tell the <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/tata-sons\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\" target=\"_blank\" rel=\"noopener\">Tata Sons<\/a> board on Thursday that the company should remain private and unlisted, pushing back against RBI&#8217;s decision that has brought it closer to a mandatory stock-market listing, according to a person close to him.<span class=\"id-r-component br\" data-pos=\"4\"\/>Noel plans to argue that RBI&#8217;s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares, the person said.<span class=\"id-r-component br\" data-pos=\"6\"\/>He is also expected to ask Tata Sons to seek an explanation from RBI for rejecting its application to surrender its core investment company registration, and to ask the regulator to reconsider before the company takes further steps.<span class=\"id-r-component br\" data-pos=\"10\"\/>&#8220;If Tata Sons has to comply with NBFC rules, we will do that,&#8221; the person said. &#8220;Compliance doesn&#8217;t mean only listing. There are other ways to comply with the rules.&#8221;<span class=\"id-r-component br\" data-pos=\"12\"\/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Noel in no mood to relent on Chandra<\/span><span class=\"id-r-component br\" data-pos=\"14\"\/>Tata Trusts had unanimously resolved last year to recommend extending Chandrasekaran\u2019s term by another five years. After the Feb board meeting \u2014 where four directors backed the extension and Noel Tata alone opposed it \u2014 Noel had considered offering Chandrasekaran a two-year extension instead, taking him to 65, the retirement age for executive directors. But he now appears in no mood to relent even though his stand may be at odds with the views of most members of the Tata Sons board.<!-- --> His position is that Chandrasekaran ruled out another term himself in his August letter to the Tata Sons board. With that decision on record, the focus should now shift to finding his successor, the person said. Sir Dorabji Tata Trust (SDTT), a key shareholder of Tata Sons, has already indicated the need to constitute a selection panel for Chandrasekaran\u2019s successor. <!-- -->SDTT has sent a letter to Tata Sons, which Noel Tata expects the NRC to consider and table before the board at its Thursday meeting. Apart from Noel Tata, Chandrasekaran and Tata Sons chief financial officer Saurabh Agrawal, the rest of the board sits on the NRC \u2014 Tata Trusts vice-chairman Venu Srinivasan and independent directors Harish Manwani and Anita George.<span class=\"id-r-component br\" data-pos=\"21\"\/>Chandrasekaran\u2019s letter to the board followed months of uncertainty over an extension. <!-- -->In the letter, he said a proposal to extend his tenure had failed to secure unanimous support, with one board member opposed. That member was Noel Tata.<span class=\"id-r-component br\" data-pos=\"25\"\/>Noel Tata\u2019s reluctance to approve Chandrasekaran\u2019s reappointment stemmed from disagreements over the financial performance of certain businesses and the future structure of Tata Sons. Under Tata Sons\u2019 articles of association, a five-member panel must be formed to recommend a candidate, with the formal appointment made by the Tata Sons board. <!-- -->Three members must be jointly appointed by SDTT and the Sir Ratan Tata Trust; the remaining two are nominated by the Tata Sons board \u2014 one a board member, the other an outsider.<span class=\"id-r-component br\" data-pos=\"30\"\/>These developments come even as Tata Sons faces a regulatory issue, after the <a href=\"https:\/\/timesofindia.indiatimes.com\/topic\/reserve-bank-of-india\" styleobj=\"[object Object]\" class=\"\" commonstate=\"[object Object]\" frmappuse=\"1\" target=\"_blank\" rel=\"noopener\">Reserve Bank of India<\/a> rejected its application to surrender its registration as a core investment company, requiring it to comply with rules applicable to NBFCs. \u201cThe two matters are unrelated,\u201d the person close to Tata said, \u201cwith the regulatory issue having no bearing on Chandrasekaran\u2019s decision to leave.<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/at-board-meet-noel-to-push-to-keep-tata-sons-private\/articleshow\/134296591.cms\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Noel plans to argue that RBI\u2019s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares MUMBAI: Tata Trusts chairman Noel Tata intends to tell the Tata Sons board on Thursday that the company should remain private and unlisted, pushing [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-25125","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-31"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","medium_large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","1536x1536":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","2048x2048":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-small":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-small-tall":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-small-square":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-small-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-medium":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-medium-masonry":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-large":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg","blogsy-wide":"https:\/\/koshalsambada.in\/wp-content\/uploads\/2026\/09\/noel-tata.jpg"},"magazineBlocksPostAuthor":{"name":"admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/8709732a479614e7a8aa24d3eb1b239f30dc6d90c61464ed495001e7a469d856?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"Noel plans to argue that RBI\u2019s Sept 11 letter requires Tata Sons to comply with rules governing upper-layer non-banking financial companies but does not explicitly direct it to list its shares MUMBAI: Tata Trusts chairman Noel Tata intends to tell the Tata Sons board on Thursday that the company should remain private and unlisted, pushing [&hellip;]","magazineBlocksPostCategories":["\u0b26\u0b47\u0b36 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