Noel Tata Seeks Board Review Of Tata Sons Restructuring, Rs 25,000 Crore SP Group Buyout

Noel Tata has written to Tata Sons directors seeking a board discussion on two significant proposals involving the company's restructuring and a potential Rs 25,000 crore buyout of Shapoorji Pallonji Group's stake. In two letters dated October 29, addressed to the Tata Sons company secretary and marked to all directors, Noel Tata has sought to include both matters on the board agenda. One proposal involves restructuring Tata Sons to help it exit its non-banking financial company classification, subject to the Reserve Bank of India's approval. The second seeks a detailed review of funding options for buying out SP Group shareholders over 18 months.