Tata Sons can’t escape RBI’s public funds net

A former regulator said the earlier argument was that Tata Sons could opt out of CIC registration as it had no public funds, could not be in the upper tier and could therefore remain private, unable to hold water. A principal investment company is a non-bank company whose business is to purchase shares and securities and to hold at least 90% of its net assets in the form of investments in shares, preference shares, debentures, debentures, debentures or loans in group companies.