Vijay Mallya-controlled Shaw Wallace & Company Ltd on Friday said it has received shareholders approval to provide guarantees and securities worth Rs 5,000 crore on behalf of its holding company McDowell & Company Ltd.
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The shareholders, by way of a postal ballot, approved the proposal to provide guarantees and securities on behalf of McDowell, the company informed the Bombay Stock Exchange.
Shaw Wallace said that a decision to give loan of upto Rs 250 crore to McDowell & Company was also given the nod by the shareholders.
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