Amid Tata group power struggle, Shapoor Mistry backs RBI's call on Tata Sons listing

Amid the Tata Sons listing buzz and power struggle in the Tata group, the Shapoorji Pallonji Group Chairman Shapoor Mistry has welcomed the Reserve Bank of India’s decision to require Tata Sons to comply with regulations applicable to upper-layer non-bank financial companies. He has described the move as a potential turning point for greater transparency and accountability at the Tata group’s holding company.Mistry’s family-owned Shapoorji Pallonji Group holds about 18.4% in Tata Sons. He said the RBI decision had brought “full clarity” and expressed his intention to work constructively with Tata Sons and the Tata Trusts on the holding company’s future.On September 11, the RBI rejected Tata Sons’ request to surrender its registration as a core investment company and directed the company to take the necessary steps to comply with the relevant regulatory framework.The decision sets Tata Sons on a path toward a public listing after years of efforts by…