Shareholders of Britannia Industries have voted against a special resolution for approval of limits for making investments, loans, guarantees and security amounting to up to ₹5,000 crore.
“Approval of limits for making investment, loans, special guarantees and security under Section 186 of the Companies Act, 2013 not passed with requisite majority,” the company said in a recent stock market notification.
However, the special resolution regarding re-appointment of Keki Elavia as an independent director and that pertaining to approval of the remuneration payable to Nusli N Wadia, Chairman and Non-Executive Director of the company, for the financial Year 2021-22 were both passed with requisite majority.