Tata Sons deregistration: RBI declines comment, says licence still valid

RBI governor Sanjay Malhotra declined to comment on Tata Sons' deregistration request, saying registered entities continue operations until their registration is cancelled

Despite repeated media queries on the status of Tata Sons’ de-registration request, Reserve Bank of India (RBI) Governor Sanjay Malhotra declined to comment, saying the regulator does not discuss company-specific issues.

 

He indicated, however, that Tata Sons — a core investment company — will continue to operate as long as its registration remains valid.

 

“Any entity which has a registration, till it is not cancelled, will continue to do its business,” Malhotra said during the post-monetary policy press conference.

 

Tata Sons, categorised as an upper layer non-banking financial company (NBFC), had a deadline of 30 September to list on the exchanges, along with other upper layer NBFCs such as HDB Financial and Tata Capital. Tata Sons had applied for de-registration, which the RBI confirmed in January this year was under consideration, when releasing the updated list of upper layer NBFCs.

 

 

HDB Financial shares were listed a few months ago, while Tata Capital’s initial public offering is scheduled to open this month.