PERNOD RICARD 
Pernod Ricard India had previously strongly denied the allegations.
The Enforcement Directorate, an Indian judicial body, had charged Pernod Ricard India in January 2023 with money laundering, finding that the group had illegally provided corporate guarantees worth $24 million to help certain retailers finance their license bids.
The court had also said that Pernod Ricard India had provided corporate guarantees to its banker HSBC in 2021 before asking it to facilitate loans to retailers, who used the funds to obtain licenses for liquor stores in New Delhi.
New Delhi government policy prohibits spirits groups from participating in the distribution of their products, either directly or indirectly.
A draft report prepared by law firm Shardul Amarchand Mangaldas at the request of Pernod Ricard India states that three officials of the French spirits group's subsidiary "had acted in violation of the (Delhi excise policy)".
"Certain conversations indicate that the corporate guarantee was a means of controlling market share through retail sales", says the report.
"Their behavior also suggests a broader conspiracy between (the employees) and other industry players," the report adds, which could have implications for Pernod in legal proceedings.
A person with direct knowledge of the case said that the conclusions of the draft report were identical to those of the final document sent to Pernod Ricard's Paris headquarters a few weeks after it was written.
Contacted by Reuters, Pernod Ricard India denied "any wrongdoing by (the company) or its management", adding "we have always cooperated with the relevant authorities and have confidence in the judicial process".
A spokesperson for Pernod Ricard in Paris did not respond to questions from Reuters. The Enforcement Directorate did not respond to a request for comment.
(French version Camille Raynaud)
by Aditya Kalra and Arpan Chaturvedi
