Vedanta Ltd will be seeking shareholders approval for raising its limit of inter-corporate loans to Rs 80,000 crore.

The company has called for a postal ballot to seek approval from shareholders.

It has said in a regulatory filing that “Approval to increase in limits… for inter-corporate loans, investments and guarantees and security in connection with loan(s) from Rs 60,000 crore to Rs 80,000 crore.”

“The company being the flagship and holding company for various subsidiaries/Wholly Owned Subsidiaries and associate companies, extends financial support in the form of investments, loans and guarantees/ security to various group companies and also in other entities from time to time as per decision of the Board.”

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