SEBI monitoring governance developments at Tata Sons, says chairman Pandey
Securities and Exchange Board of India Chairman Tuhin Kanta Pandey said the regulator is tracking developments at the Tata Group holding company.
Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey said on Saturday that the market regulator is monitoring governance-related developments at Tata Sons. According to Business Today, Pandey made these remarks while speaking to reporters at the launch of the Bharat Chamber Investors Forum.
Pandey noted that while Tata Sons is an unlisted holding company, the group's listed entities and their promoters must comply with all regulatory and disclosure requirements. He stated that listed companies follow Listing Obligations and Disclosure Requirements (LODR) norms.
The chairman confirmed that SEBI is tracking developments within the Tata Group but did not name any particular governance breach or mention potential regulatory action. These comments follow reported differences regarding governance at Tata Sons, including the proposed listing of the company and the reappointment of N Chandrasekaran as chairman.
An analysis by governance advisory firm InGovern shows that seven listed Tata companies, including Tata Steel and Tata Motors Passenger Vehicles, collectively hold about 11.92% of Tata Sons. These entities have more than 1.77 crore shareholder or folio accounts.
Tata Trusts is the largest shareholder in Tata Sons with approximately 66% ownership, while the Shapoorji Pallonji Group holds around 18.4%.