NEWS
PERNOD RICARD INDIA LOST BID TO RESUME TRADING IN NEW DELHI
By Siulan Law Mathews DipWSET
29-7-2024
Source: Pernod Ricard India
French drinks giant Pernod Ricard has lost its latest bid to resume trading in the capital city of India, the company said it is assessing its next possible steps.
The Delhi local government rejected Pernod Ricard’s application to restore its licence to sell alcohol in New Delhi on the grounds that investigations into the company’s involvement in the Delhi excise case is still on-going.
Responding to the news, Pernod Ricard said it would “review its options in light of the recent decision” and was “eager to re-start supplying to Delhi at the earliest opportunity”.
The company is also involved in two antitrust cases in India and is also contesting a tax demand for nearly USD250 million for having allegedly under reported value of imports.
In 2021, a new excise policy was introduced in New Delhi which scrapped all state owned alcohol vending outlets and issued licences to private retailers.
That policy was scrapped after one year due to irregularities in the application process, causing immense chaos to retailers and consumers.
Pernod Ricard was charged with helping retailers to obtain private licences and bank loans in return for the retailers to stock their brands.
The company has lost its licence to sell liquor in New Delhi in 2022 due to the charges, it has since been unable to restore the licence despite repeated efforts.
(the writer can be contacted at: info@thewinechronicle.com)
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