Mukund Rajan, chief ethics officer of Tata Sons, has decided to quit from the Tata group’s holding company.

“Rajan has conveyed personal reasons for his decision to leave Tata Sons and has indicated he will be evaluating certain entrepreneurial pursuits in the coming months. Rajan and Tata Sons have mutually agreed that Rajan will leave the services of Tata Sons on March 31, 2018,” Tata Sons stated.

“Tata Sons thanks him for his distinguished services in various leadership roles including in the telecommunication sector, private equity space and branding strategy, as a Tata Administrative Service (TAS) Officer in the Tata Group, over a period of 23 years,” Tata Sons said. Mukund Rajan is the younger brother of former RBI Governor Raghuram Rajan.

There were reports that private equity firm TPG Capital along with Rajan was planning to bid for Tata Teleservices’ fibre business for $ 1 billion.

Mukund Rajan had earlier worked as Chief Brand Custodian and a member of the Group Executive Council set up by former Tata Sons Chairman Cyrus Mistry. While the council was disbanded in October 2016, Rajan was retained in Tata Sons.