Noel pushes Tata Sons restructuring, SP exit

Tata Trusts Chairman Noel Tata has sought to put two contentious issues before the Tata Sons board: a restructuring that could help the holding company avoid a stock market listing, and a Rs 25,000-crore proposal to facilitate the exit of minority shareholder Shapoorji Pallonji (SP) Group.

In separate letters dated October 29, Noel has asked Tata Sons management to make detailed presentations on both proposals at the November 26 board meeting and place resolutions before directors for consideration. The letters bring into sharper focus the regulatory and shareholder challenges confronting the Tata Group‘s holding company.