Item 1 of 2 Absolut vodka bottles are seen displayed, amid the outbreak of the coronavirus disease , at a liquor store in Amman, Jordan, October 21, 2020. REUTERS/Muhammad Hamed/File PhotoAbsolut vodka bottles are seen displayed, amid the outbreak of the coronavirus disease , at a liquor store in Amman, Jordan, October 21, 2020.
The Competition Commission of India is reviewing the case and can order a full investigation, or dismiss the accusations if not borne out, said a source familiar with the matter who spoke on condition of anonymity. Drawing on the findings, the CCI complaint accuses Pernod of providing $24 million in corporate guarantees to its bankers in 2021 to help city retailers get loans. Retailers then ensured that 35% of the stock in their shops consisted of Pernod brands.
Pernod's "support" of $24 million to bidders for store licences had the potential to generate an additional $15 million "benefit over a three-year period" and the move "will also enable us to counter local players' threat", the email said.