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
