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Biz EOD: Tata challenges NCLAT's Mistry order; Gangwal calls for IndiGo EGM; Modi aims $100 bn bio-manufacturing

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twitter-logo BusinessToday.In        Last Updated: January 3, 2020  | 22:09 IST
Biz EOD: Tata challenges NCLAT's Mistry order; Gangwal calls for IndiGo EGM; Modi aims $100 bn bio-manufacturing
Top stories from the world of business and economy.

Ratan Tata moved the Supreme Court on Friday in his personal capacity challenging the National Company Law Appellate Tribunal's order to reinstate Cyrus Mistry. IndiGo will hold an Extraordinary General Meeting (EGM) of its members on the request of Rakesh Gangwal-led RG Group on January 29. Prime Minister Narendra Modi said that the government aims to develop India as a world-class $100 billion bio-manufacturing hub by 2024. Read for more top stories from the world of business and economy:

1. Ratan Tata moves Supreme Court seeking stay against NCLAT's order to restore Cyrus Mistry

Ratan Tata said in his petition that the NCLAT order creates a wrong legal precedent, which could be misused against other companies.

2. Rakesh Gangwal calls for IndiGo EGM; likely to pass amendments to company's regulations

As per provisions in the Companies Act, 2013, the RG Group, which comprises Rakesh Gangwal, Shobha Gangwal and The Chinkerpoo Family Trust, holds 36.64 per cent stake in InterGlobe Aviation, which empowers them to seeks an EGM.

3. PM Modi aims for $100 billion bio-manufacturing hub; industry says target seems aggressive

Indian Science Congress: Many in the industry welcomed PM Modi's focus on bio-manufacturing. However, they believe that a lot more may need to be put in place.

4. Gold prices soar to record Rs 41,000 on US-Iran conflict

Gold prices had soared above Rs 40,000 last year in the first week of September, following which it hovered around Rs 39,000 until the last week of the year.

5. Adani Ports to acquire 75% stake in Krishnapatnam Port for Rs 13,572 crore

Adani Ports said that the investment is in line with the company's strategy to increase its footprint in Andhra Pradesh, adding that this acquisition will accelerate its stride towards 400 MMT by 2025.

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