Indian food giant Britannia Industries has said it is investigating ten employees for violating its code of conduct.
A Britannia spokesperson said today (20 June) the company has asked the employees not to report to work until the investigation is concluded. However, she did not provide details of the allegations.
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It is understood the investigation involves executives at general manager level suspected of malpractices in the granting of supply contracts. According to The Economic Times, the inquiry has revealed the employees “favoured certain suppliers over others”.
The executives are understood to have been based in Delhi and Bangalore.
A spokesperson for Britannia said: “We have come across instances of certain practices and behaviour which are in violation of our code of business conduct, which clearly spells out the ethical standards of behaviour from all Britannia employees at all times.
“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. Ten people have been asked not to show up at work till the investigation is over.”
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By GlobalDataLast month, Britannia booked higher annual profits as it controlled costs and saw NPD improve sales.
The bakery and dairy group reported a 48.5% jump in consolidated net profit to INR2bn (US$358.5m) for the year to the end of March. Revenue increased 19% to INR54.6bn.
