Lok Sabha MP writes to FM Sitharaman, seeks intervention in Tata Sons' listing row
Kaushalendra Kumar has requested Finance Minister Nirmala Sitharaman to investigate Tata Sons' listing controversy. Citing media reports, the four-time MP from Nalanda has reportedly written a letter to the Finance Minister, highlighting that the matter could harm the credibility of the Government of India and key financial institutions like the RBI.
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Concerns over regulatory integrity
In his letter, Kumar stated, «The Reserve Bank of India is a vital institution in ensuring financial stability, transparency, and regulatory oversight in the country. Any situation compromising its independence could have severe consequences on investor confidence and the country's financial structure. Government should ensure the integrity of the RBI’s regulatory processes and prevent any undue influence from corporate interests.»
Tata Sons, the holding company of the Tata Group, was classified in September 2022 as a systemically important entity under the RBI’s Scale-Based Regulation (SBR) framework. This designation requires the company to list its shares publicly by 2025.
Conflict of interest allegations
The controversy has been further complicated by allegations of a conflict of interest involving Venu Srinivasan, who serves as Vice Chairman
