Tata Trusts directed Tata Sons Chairman N Chandrasekaran to initiate a negotiation with minority stakeholder Shapoorji Pallonji Group to provide them with an exit, a report stated. Tata Trusts requested Chandrasekaran to “exercise best endeavours” to ensure that it remains an unlisted private company, avoiding RBI's listing requirements. Tata Sons faces RBI's September 30 deadline to list itself.