Overview

• Two senior cabinet ministers are reported to be convening in Delhi with Noel Tata, Venu Srinivasan, N. Chandrasekaran and Darius Khambata to review tensions within Tata Trusts and the path for Tata Sons’ listing.
• The discussions are expected to focus on containing trustee divisions so they do not disrupt Tata Sons’ functioning and on options for advancing a public listing, according to multiple reports.
• Tata Sons has missed the September 30, 2025 deadline to list under the RBI framework for systemically important core investment companies, and its application to surrender CIC registration remains pending.
• Trustee infighting has intensified over nominee director control, with reports citing the ouster of Vijay Singh, opposition to appointing Mehli Mistry and a contentious email referencing possible action against Venu Srinivasan.
• Attention now turns to the Tata Trusts board meeting on October 10, as the SP Group continues to push for a listing to help monetise its 18.37% stake.