RBI files caveat after rejecting Tata Sons bid to avoid listing, source says

The Reserve Bank of India (RBI) — the country’s central bank ​and banking regulator — has pre-emptively approached the courts seeking to ‌be heard in any matter filed related ​to the listing of Tata Sons, ⁠a source directly familiar with the matter said.The move follows the RBI’s rejection of Tata Sons’ application to deregister ‌as a non-banking financial company (NBFC), a decision that pushes the holding company closer ‌to a stock market listing. Reuters reported on ‌Saturday (September 12, 2026) ⁠that the RBI had communicated its decision ⁠in a letter to Tata Sons.Factions within the group have resisted a listing, according to local media reports.The RBI ​has filed what in ‌legal parlance is known as a ‘caveat’ in the Bombay High Court which will allow the central bank to be heard if a petitioner ‌challenges its decision or seeks a stay, ​the source said, declining to be identified as they are not authorised to speak ⁠to the media.This was done “as a routine measure to ensure it is heard in any proceedings ‌challenging the decision or seeking a stay,” the source said.RBI and Tata Sons did not reply to emailed requests for comment from Reuters.Tata Sons, the century-old holding company of the Tata Group, has businesses including Tata Consultancy Services, Tata Motors, ‌Tata Steel and Air India.Shares of group companies rose on ​Tuesday (September 15, 2026).It falls under the RBI’s purview as it is currently registered as a core ⁠investment company.Under RBI rules, all non-bank financiers including ⁠core investment companies with assets exceeding ₹1 trillion rupees ($10.45 billion) or access to public ‌funds are required to list.Tata Sons reported standalone assets of ₹1.75 trillion as of ​March 2025, the latest data available. Published - September 15, 2026 10:09 pm IST