Top headlines: Sebi clears gold exchange framework; NCLT relief for Future

Business Standard brings you the top headlines on Tuesday

Sebi board clears frameworks for gold, social stock exchanges

Sebi's board on Tuesday cleared a proposal for setting up a gold exchange wherein the yellow metal will be traded in the form of electronic gold receipts and the bourse will help in having a transparent domestic spot price discovery mechanism.

The instruments representing gold will be called Electronic Gold Receipts (EGRs) and will be notified as securities, Sebi Chairman Ajay Tyagi said at a press conference after the board meeting. Read more
 

NCLT allows Future Group to hold EGMs to sell businesses to Reliance

The National Company Law Tribunal (NCLT) Mumbai has allowed the Future Group firms to hold meetings of its shareholders and creditors to seek approval for sale of assets to Reliance Retail Ltd.

In an order on Tuesday, NCLT asked the company for a suitable date for the extraordinary general meeting of the shareholders and creditors to be held. Read more

'He is not a stable man': Amarinder on Sidhu's resignation as PCC chief

Soon after the resignation of Navjot Singh Sidhu as the Punjab Congress president, former chief minister Amarinder Singh on Tuesday dubbed the cricketer-turned-politician as a man who is "not stable" and "not fit" for the border state.

"I told you so...he is not a stable man and not fit for the border state of punjab," Singh tweeted. Sidhu resigned as the PCC chief and sent his resignation to Congress president Sonia Gandhi on Tuesday. Read more

Serum Institute gets nod to start Covovax trials on children above 7 yrs

Serum Institute of India (SII) will now conduct trials of the Novavax Covid-19 vaccine on children aged seven to 11 years. The company had started trials on 12 to 17 year olds earlier.

India’s drug regulator on Tuesday allowed the Pune based vaccine manufacturer to take the trial one step further and enroll children between seven and eleven years. Read more