Hear us first if Tata Sons files any plea: RBI caveat in HC

MUMBAI: Anticipating a legal showdown with Tata Sons, Reserve Bank of India has lodged a caveat in Bombay high court after rejecting its application for deregistration as a core investment company, a status that would have exempted it from a stock market listing. The central bank has asked to be heard before any order is passed and has served a copy of the caveat on Tata Sons, according to people familiar with the matter, reports Reeba Zachariah.The caveat and RBI's Sept 11 letter - informing Tata Sons its request for voluntary surrender of its registration certificate could not be acceded to, and that it must comply with upper-layer NBFC rules - will be taken up at the company's board meeting on Thursday.