Business EconomyPosted at: Oct 30 2026 9:18PM


Noel Tata seeks Board vote to rejig Tata Sons, pay Rs 25,000 Crore to SP Group

Mumbai, Oct 30 (UNI) Tata Trusts Chairman Noel Tata has written two separate letters to the Tata Sons board which propose to reorganise Tata Sons aimed at avoiding Reserve Bank of India (RBI) regulatory norms to list the holding company on the stock and pay Rs 25,000 crore to minority Tata Sons shareholder Shapoorji Pallonji (SP) Group.
Noel Tata has sought placing both proposals on the agenda of the Tata Sons November 26 meeting.
Noel Tata has invoked Article 121B of Tata Sons' Articles of Association, which allows any director to place a matter before the board with at least 15 days’ notice.
Each letter includes a draft resolution that Tata Trusts Chairman Noel Tata wants the board to vote on.
To comply with RBI norms and yet avoid a listing on the stock exchange, Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT) had proposed merging two wholly owned subsidiaries, namely Tata Electronic Systems Solutions (TESS) and Tata Consulting Engineers (TCE), with Tata Sons.
Such a proposed merger would make Tata Sons an operating company with business activities and enable it to move out of the definition of a non-banking financial company (NBFC) and a core investment company (CIC), as per RBI norms.
Noel Tata has sought in-principle approval for this proposal and also asked the Tata Sons management to present legal advice it has received besides its assessment of the plan.
However, the proposal would need to seek a no-objection from the RBI before taking the merger scheme to the National Company Law Tribunal (NCLT).
Noel Tata’s proposal has also asked the Tata Sons management to examine the possibility of merging Tata Electronics Products & Solutions with Tata Sons.
Noel Tata’s second letter has proposed that Tata Sons buyback Shapoorji Pallonji (SP) Group’s shareholding for a gross consideration of Rs 25,000 crore, which is called a selective capital reduction exercise.
The proposal would require approval from the NCLT and a special resolution of shareholders. The proposal would include a condition that SP Group entities provide a full and final settlement of their claims against Tata Sons, its directors and shareholders.
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Tags: #Noel Tata seeks Board vote to rejig Tata Sons# pay Rs 25#000 Crore to SP Group
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