Diversified business conglomerate Videocon Industries has secured its shareholders' approval to make investments, provide securities and extend guarantees and inter-corporate loans up to an amount of Rs 25,000 crore.
In a filing to the BSE, the company said its shareholders have passed resolutions through a postal ballot to "make investments, extend guarantees, provide security [and] make inter-corporate loans up to an amount of Rs 25,000 crore."
The company said its shareholders have also a passed resolution that enables it to borrow up to Rs 30,000 crore.
The shareholders have approved a previous proposal for "sell, lease, mortgage, or otherwise dispose of the whole or substantially the whole of undertaking of the company" to raise funds up to Rs 30,000 crore, the BSE filing said.
