Tata Sons Pvt. Ltd. has approved going public in a majority vote and asked Chairman Natarajan Chandrasekaran to stay on for five more years, as one of India’s oldest business houses moves to keep leadership steady through the transition. In a formal resolution, the board said it would initiate steps to comply with applicable Reserve Bank of India norms and seek guidance from the regulator, Tata Trusts and other stakeholders on the compliance, Tata Sons said in a statement Thursday. The majority of directors also formally requested that Chandrasekaran, widely known as Chandra, continue at the helm for another five years to guide the group through the shift.

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