Tamo gets NCLT nod to hive off passenger vehicles business

Auto major Tata Motors on Friday said it received approval of the National Company Law Tribunal (NCLT) Mumbai Bench to hive off its passenger vehicles business unit into a separate entity. Tata Motors will be filing the said order along with a copy of the scheme with the Registrar of Companies, Mumbai within 30 days of the date of receipt of the order, the company said in a regulatory filing.