CosmicTaco

Pernod Ricard Faces Legal Turmoil in India

CosmicTaco · 2024-12-04T09:52:42.763621+05:30

- Pernod Ricard's internal probe reveals top executives in India violated Delhi laws by colluding with alcohol retailers. The company denies any wrongdoing. - The Enforcement Directorate accuses Pernod Ricard India of money laundering, alleging unlawful $24 million corporate guarantees to retailers. - Pernod Ricard's brands are banned in New Delhi, impacting its largest market by volume. The company estimates civil liability could reach $67 million. Source: [Reuters](https://www.reuters.com/world/india/pernod-ricard-denied-breaching-india-law-its-lawyers-said-otherwise-2024-12-04/)

Pernod Ricard's internal probe reveals top executives in India violated Delhi laws by colluding with alcohol retailers. The company denies any wrongdoing.
The Enforcement Directorate accuses Pernod Ricard India of money laundering, alleging unlawful $24 million corporate guarantees to retailers.
Pernod Ricard's brands are banned in New Delhi, impacting its largest market by volume. The company estimates civil liability could reach $67 million.

Source: Reuters