Tata Trusts propose merger of TESS, TCE with Tata Sons to exit NBFC, CIC classifications

New Delhi [India], September 28 (ANI): Tata Trusts, which hold a 66 per cent stake in Tata Sons Private Limited (TSPL), have proposed a strategic reorganisation of the Tata Group holding company that would result in TSPL ceasing to be classified as a Non-Banking Financial Company (NBFC) or a Core Investment Company (CIC), according to a press release by Tata Trusts.

The proposed reorganisation involves the merger of Tata Electronics Systems Solutions Private Limited (TESS) and Tata Consulting Engineers (TCE) with TSPL. The Tata Trusts said the move would restore an operating model for TSPL, under which it would have its own operations and revenues alongside its role as a holding company for the Tata Group.