Deep rifts have emerged at Tata Trusts over the possible public listing of Tata Sons, the holding firm of the Tata Group. The senior trustees of the Sir Dorabji Tata Trust have made serious accusations against the other trustees, Venu Srinivasan, and Vijay Singh, of breaching the rules and disregarding the decisions taken by the board. This is indicative of the ongoing debate on the ownership of Tata Sons and whether it should be listed.

As per an NDTV Profit report, such accusations have been made in a letter. It was signed by Noel N. Tata, Darius J. Khambatta, Neville N. It is alleged in the letter, which is believed to be signed by both Tata and Bhaskar Bhatt, that the unlisted nature of Tata Sons is an established practice followed by the Tata Trusts as well as the company. In March 2024, the Tata Sons board unanimously decided to keep the company unlisted. In July 2025, the trustees of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust reiterated this stance. They agreed to continue dialogue with the Reserve Bank of India (RBI).

Senior trustees stated that the July 2025 proposals were never withdrawn. They allege that Venu Srinivasan and Vijay Singh changed their opinion. They did not place it before the trustees for a collective discussion. Instead of demanding a review of the prior decision, they publicly supported listing. The letter states that such public statements undermine the trusts' official decisions. These statements could also impact Tata Sons' pending processes and applications with the RBI.

Senior trustees referred to a proposal on September 28th. It suggested the merger of Tata Electronics Systems Solutions Private Limited and Tata Consulting Engineers with Tata Sons. This was considered a potential option. It could help the company meet RBI's non-banking financial company (NBFC) norms and avoid the need for a public listing. The Tata Sons board had asked the trustees to explore all available options, rather than considering only the listing option.

The trustees stated in the letter that they followed the Tata Sons board's instructions: they explored other possible avenues beyond public listing. This development comes at a time when Tata Sons is grappling with the resolution of regulatory issues related to the RBI. In this context, the debate over whether to keep the company unlisted or pursue a public listing has intensified.

Deep rifts have emerged at Tata Trusts over the possible public listing of Tata Sons, the holding firm of the Tata Group. The senior trustees of the Sir Dorabji Tata Trust have made serious accusations against the other trustees, Venu Srinivasan, and Vijay Singh, of breaching the rules and disregarding the decisions taken by the board. This is indicative of the ongoing debate on the ownership of Tata Sons and whether it should be listed.

As per an NDTV Profit report, such accusations have been made in a letter. It was signed by Noel N. Tata, Darius J. Khambatta, Neville N. It is alleged in the letter, which is believed to be signed by both Tata and Bhaskar Bhatt, that the unlisted nature of Tata Sons is an established practice followed by the Tata Trusts as well as the company. In March 2024, the Tata Sons board unanimously decided to keep the company unlisted. In July 2025, the trustees of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust reiterated this stance. They agreed to continue dialogue with the Reserve Bank of India (RBI).

Senior trustees stated that the July 2025 proposals were never withdrawn. They allege that Venu Srinivasan and Vijay Singh changed their opinion. They did not place it before the trustees for a collective discussion. Instead of demanding a review of the prior decision, they publicly supported listing. The letter states that such public statements undermine the trusts' official decisions. These statements could also impact Tata Sons' pending processes and applications with the RBI.

Senior trustees referred to a proposal on September 28th. It suggested the merger of Tata Electronics Systems Solutions Private Limited and Tata Consulting Engineers with Tata Sons. This was considered a potential option. It could help the company meet RBI's non-banking financial company (NBFC) norms and avoid the need for a public listing. The Tata Sons board had asked the trustees to explore all available options, rather than considering only the listing option.

The trustees stated in the letter that they followed the Tata Sons board's instructions: they explored other possible avenues beyond public listing. This development comes at a time when Tata Sons is grappling with the resolution of regulatory issues related to the RBI. In this context, the debate over whether to keep the company unlisted or pursue a public listing has intensified.