New Delhi, Oct 10 (PTI) SP Group Chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of the trust that controls the holding company of the salt-to-software conglomerate.

In a statement, Mistry called for the RBI's compliance timeline of September 30, 2025 for Tata Sons to be listed "under the "Upper Layer" classification "be viewed with the seriousness and sanctity that regulatory commitments deserve".

The Shapoorji Pallonji Group has consistently advocated the public listing of Tata Sons, Mistry said.

"We firmly believe that listing this premier institution will not only uphold the spirit of transparency envisioned by its founding father, Shri Jamsetji Tata, but also strengthen trust among all stakeholders -- employees, investors, and the people of India," he noted.

He further said, "Our stance is guided by a simple yet profound belief - Tansparency is the truest form of respect for both legacy and the future." As one of India's oldest business houses, he added, "We have full faith in the Reserve Bank of India, a constitutional and autonomous body, to take decisions grounded in the principles of equity, justice, and public interest." The RBI's Scale-Based Regulatory Framework clearly articulates that a Non-Banking Financial Company (NBFC) should not act in a manner detrimental to the interests of its investors, Mistry noted.

In this context, he said, "We trust that the 30th September 2025 compliance timeline under the "Upper Layer" classification will be viewed with the seriousness and sanctity that regulatory commitments deserve." He expressed confidence that the RBI will act in accordance with the rule of law and the spirit of fairness.

Mistry asserted that the public listing of Tata Sons is not merely a financial step but" it is a moral and social imperative".

Shapoorji Pallonji family owns about 18.37 per cent of Tata Sons. The SP Group has been looking at leveraging its shareholding in Tata Sons to raise funds and pare its debt.

Tata Trusts hold a 66 per cent stake in the promoter and holding company of the Tata Group. PTI RKL ANZ HVA

Tata Sons public listing urged to meet RBI Upper Layer compliance timeline to enhance transparency for stakeholders. The statement demands public listing of Tata Sons to comply with the RBI's Upper Layer classification timeline, urging that the September 30, 2025 compliance deadline under the Scale-Based Regulatory Framework be observed to protect investors and uphold transparency. It links the listing requirement to the NBFC investor-protection objective and frames listing as a mechanism for the Shapoorji Pallonji group (18.37% shareholder) to strengthen stakeholder trust and leverage shares to raise funds and reduce debt.