Tata Trusts, holding 66% of Tata Sons Private Limited, proposed merging Tata Electronics Systems Solutions (TESS) and Tata Consulting Engineers (TCE) into Tata Sons to end its NBFC and CIC classifications. The amalgamated entity would report operating revenues of Rs 1,05,043 crore versus Rs 40,072 crore from financial assets, making operating income 64.3%. The plan requires RBI no-objection and surrender of CIC registration.
