Tata Sons gets listing backing from second-largest shareholder; Shapoor Mistry calls it opportunity for accountability

Shapoorji Pallonji Group Chairman Shapoor Mistry has backed a potential listing of Tata Sons, saying the Reserve Bank of India’s decision requiring the holding company to comply with regulations for upper-layer non-bank financial companies could mark a turning point for transparency and accountability.

Mistry, whose family’s Shapoorji Pallonji Group owns about 18.4 per cent of Tata Sons, said the RBI’s decision had provided “full clarity” and that he looked forward to working constructively with Tata Sons and the Tata Trusts on the company’s future.