Tata Trusts propose Tata Sons rejig to keep it private

Tata Trusts, the majority owner of Tata Sons, have proposed merging two operating companies with the group's holding company in a restructuring aimed at allowing Tata Sons to shed its regulatory classification as a non-banking financial company and a core investment company, potentially removing the need for a stock-market listing. The proposal, announced on Monday, involves merging Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons.