Tata Sons, the holding company of the Tata group, has received a clearance from the Registrar of Companies (RoC) to change its status from a deemed public limited company to a private limited one, according to the certificate of incorporation filed by the firm.
A Tata Sons spokesperson declined to comment.
The move is a big setback for the Shapoorji Pallonji Mistry family, which has been involved in a legal slugfest with Tata Sons since December 2016. Cyrus Mistry was removed as chairman of Tata Sons two months earlier. Most importantly, it will effectively restrict the Mistry family’s ability to sell its