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Jun 13, 2012, 03.40 PM IST
FMCG major Britannia Industries today said it has initiated an internal probe over alleged irregularities committed by some of its staff and ten employees have already been put on notice.
The company, however, did not specify the financial impact of the alleged irregularities nor the positions of the employees, who are on notice, in the firm.
"We have come across instances of certain practices and behavior which are in violation of our code of business conduct, which clearly spells out the ethical standards of behavior from all Britannia employees at all times," a Britannia spokesperson told PTI.
"These are being investigated thoroughly and appropriate action will be taken against those employees who have violated that code of business conduct, which every employee signs," the spokesperson added.
The spokesperson was responding to queries on whether Britannia Industries is conducting an internal investigation in its supply chain and logistics department to probe alleged misuse of company powers in giving orders by unfairly favouring some suppliers at the cost of others.
"Ten people have been asked not to show up at work till the investigation is over," the company spokesperson said.
The Bangalore-based firm which sells various brands including Good Day and Mariegold, posted net sales of Rs 4,947.04 crore for 2011-12 fiscal.
The development comes close on the heels of sportswear major Reebok India alleging its former Managing Director Subhinder Prem Singh and ex-COO Vishnu Bhagat of fraud and malpractices that cost the company Rs 870 crore.
Shares of Britannia were trading at Rs 534.15 on the BSE in late afternoon trade, up 3.25% from its previous close.
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