Tata Trusts propose merging 2 firms with Tata Sons to avoid RBI listing mandate

NEW DELHI: Tata Trusts, which hold a 66 per cent stake in Tata Sons, have proposed merging two operating companies with the Tata Group's holding company in a move aimed at taking Tata Sons out of the Reserve Bank of India's regulatory framework for non-banking financial companies and core investment companies, potentially allowing it to remain unlisted.The Trusts have asked the Tata Sons board to consider merging Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons and to seek a prior no-objection certificate from the RBI for the proposed restructuring, reported PTI.The proposal comes amid a standoff between Tata Trusts and the Tata Sons board over whether the holding company should remain private or move towards a stock-market listing."The Tata Trusts today, as majority shareholders with a 66 per cent stake in Tata Sons Private Limited (TSPL), outlined a strategic reorganisation plan for the…