Venu, Vijay Singh query Noel’s merger plan to avoid Tata Sons IPO

(File photo): RBI declined Tata Sons’ deregistration application on Sept 11 and directed the company to comply immediately with rules for non-banking finance companies (NBFCs) in the upper layer category.MUMBAI: Tata Trusts vice-chairmen Venu Srinivasan and Vijay Singh have challenged chairman Noel Tata’s proposal to merge two Tata Sons subsidiaries into the holding company to avoid a stock market listing, saying he pursued it without approval of the boards of the trusts that control Tata Sons.