At board meet, Noel Tata to push to keep Tata Sons private

MUMBAI: Tata Trusts chairman Noel Tata intends to tell the Tata Sons board on Thursday that the company should remain private and unlisted, pushing back against RBI's decision that has brought it closer to a mandatory stock-market listing, according to a person close to him.Noel plans to argue that RBI'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.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."If Tata Sons has to comply with NBFC rules, we will do that," the person said. "Compliance doesn't mean only listing.