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Market regulator Securities and Exchange Board of India (SEBI), while imposing a penalty of Rs1,575 crore,
Britannia Industries' shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week.
The special resolution for approval to increase limits for making investments, loans, Special guarantees and security was "not Passed with requisite majority," said a regulatory filing from Britannia Industries on June 29, 2022.