FMCG major Godrej Industries today said its shareholders have approved the company's proposal to invest in shares or give loans to its joint venture company.
Shareholders of the company have given their approval to invest in securities or place inter corporate deposits, make loans or any other form of debt or guarantees in connection with loan given by any other person to Godrej Hershey, the company said in a filing to BSE.
Godrej Hershey is a JV between Godrej Beverages and Foods, a part of Godrej Industries, and North America's leading chocolate and confectionery maker the Hershey Company.
Further, shareholders of the company have also given their consent "to place inter corporate deposits with or make loans or any other form of debt to Tricom India".
Tricom India, specialisers in non-voice Business Process Outsourcing.
Shares of Godrej Industries were trading at Rs 195.80, down 0.96 per cent in the afternoon trade on BSE.
