Tata Sons failed to convince RBI on private status: Trustee

Tata Trusts trustee Darius Khambata has criticised Tata Sons' discussions with the RBI, saying they failed to make a strong case for the holding company to retain its private status. In a November 2 letter, he said the engagement did not adequately address regulatory concerns. He questioned its efforts to avoid a stock market listing while adopting listed-company disclosure standards.