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Top 10 biz headlines: IndiGo row, surcharge on FPIs, IIP growth, and more

From IndiGo promoters' feud to IIP data, here are the top 10 stories which made the headlines on Friday

According to media reports, serious differences have cropped up between the two chief promoters over strategies and ambitions for the airline
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IndiGo promoters' war: Can work with Bhatia if system fixed, says Gangwal

IndiGo co-promoter Rakesh Gangwal has said if the corporate governance structure in the company is improved, he’s open to working with Rahul Bhatia. Read more here

Infosys raises revenue forecast by 10%; net up 5% in first quarter

Infosys, the country’s second-largest IT services company, on Friday announced a sound set of numbers for FY20. Read more here

Manufacturing, mining pull down industrial output growth to 3.1% in May

Manufacturing and mining pulled down industrial output growth to 3.1 per cent in May, compared to 4.3 per cent in April. Experts partially attributed this to cut in private spending during elections. Read more here

Budget impact: Surcharge hike likely to hit global passive funds

The surcharge on foreign portfolio investors (FPIs), introduced by Finance Minister Nirmala Sitharaman in her maiden Budget last week, may dent the returns of passive funds that invest in India, affecting their ability to mimic the benchmark returns, experts say. Read more here

Pension, provident funds to get top priority in repayment from IL&FS: NCLAT

The National Company Law Appellate Tribunal (NCLAT) on Friday said pension and provident funds which had invested in Infrastructure Leasing & Financial Services (IL&FS) would have priority in payment from all categories of companies, whether classified as green, amber or red. Read more here

From THDC India to Neepco, govt plans to list 10 PSUs this fiscal year

The Centre plans to list around 10 state-owned companies on the bourses this fiscal year, to be able to meet the disinvestment target of Rs 1.05 trillion, Atanu Chakraborty, secretary to the Dipam. Read more here

The Dhoni era: How Captain Cool's genius changed Indian cricket forever

The occasional bulging of the eyes, the annoyingly incessant fastening and unfastening of the gloves, the odd tilt of the head behind the stumps, the look up to the heavens, the thumb reaching out for the periphery of the left eye, the flapping of the shoulders in one sudden circular motion. Read more here

Audi announces top management changes for India

Rahil Ansari, Audi AG's head for India operations, is relocating to the carmaker’s headquarters in Germany's Ingolstadt, the company said. He will be replaced by Balbir Singh Dhillon, who currently heads the dealer development for Audi, reported the Livemint. 
 
Startups can’t overcome Angel Tax fear despite Nirmala Sitharaman’s assurance

The threat of 'angel tax' is yet to recede despite assurances from finance minister Nirmala Sitharaman that startups wouldn’t face out-of-the-ordinary tax scrutiny. 

Soon, Tax Dept to send SMS on 18 types of high-value transactions

Soon, one will receive an SMS from the I-T Department if he or she quotes PAN for 18 types of financial transaction where it is mandatory. The I-T department will now act as an accountant for assessees, said CBDT chairman PC Mody, reports the Hindu Business Line.