Archive · 2 Jun 2025
Ex-CJI: RBI Must Consider SP Group Concerns on Tata Sons Listing
Imagine a big company, Tata Sons, might have to list itself publicly, meaning anyone can buy shares.
However, they are asking the Reserve Bank of India (RBI), India's bank, for an exception.
A former top judge, Uday Lalit, says the RBI should listen to the Shapoorji Pallonji (SP) Group, who own a part of Tata Sons.
He believes Tata Sons gets money indirectly from the public.
The SP Group thinks the RBI should consider their side.
This is because Tata Sons has ties with other companies that are already listed, so the public has a stake in Tata Sons.
The RBI needs to decide if Tata Sons must list or if they get a pass.
Former CJI Uday U Lalit provided a legal opinion on Tata Sons and RBI regulations.
The opinion states Tata Sons should be considered an entity with indirect access to public funds.
Lalit believes RBI should not ignore Shapoorji Pallonji (SP) Group's concerns about Tata Sons.
Tata Sons is seeking an exemption from mandatory listing by October 2025.
SP Group, holding a significant stake in Tata Sons, wants the RBI to consider their perspective.
- Who
- Former CJI Uday U Lalit, Shapoorji Pallonji (SP) Group, Tata Sons.
- What
- A legal opinion was provided stating the RBI should consider SP Group's concerns regarding Tata Sons' potential exemption from mandatory listing.
- When
- Legal opinion dated March 11, 2025.
- Where
- India
- Why
- To determine if the RBI should grant Tata Sons an exemption from mandatory listing, considering its indirect access to public funds and SP Group's stake.
SP Group
Tata Sons
RBI's consideration of concerns
SP Group
SP Group believes the RBI should consider their concerns due to the interconnectedness of Tata Sons with listed entities and the high public interest.
Tata Sons
Not explicitly stated. Implied that Tata Sons seeks exemption from mandatory listing without addressing SP Group's concerns.
- Legal Opinion Date
- March 11, 2025
- SP Group Stake in Tata Sons
- 18.37%
- Tata Trusts Stake in Tata Sons
- 65.89%
- Tata Sons Asset Worth (approx.)
- Rs 1.3 lakh crore
- Stake held by Tata Group companies in Tata Sons
- 12.87%
- Debt repaid by Tata Sons last year
- Over Rs 20,000 crore
- Deadline for mandatory listing (if applicable)
- October 2025