Tata Trusts merges TESS, TCE into Tata Sons to avoid NBFC tag

Tata Trusts is merging Tata Electronics Systems Solutions and Tata Consulting Engineers into Tata Sons Private Limited to avoid NBFC/CIC regulatory classification. The move will boost TSPL's operating revenues to ₹1,05,043 crore and restore its pre-2004 operating-cum-holding structure. RBI approval is being sought to keep the group private and agile.