Beam probes India unit for duty violations, invoice irregularities

US drinks giant Beam Inc, makers of Jim Beam bourbon and Teacher's scotch whisky, has initiated investigations into whistleblower allegations of financial misdemeanours at its India unit, said people familiar with the matter. The world's fourth largest premium spirits company has asked the local senior management, including managing director Harish Moolchandani, to keep away from work pending investigations, they added.

The development closely tracks move by Adidas Group to fire the top brass of Reebok India citing financial irregularities.

Sources said investigations cover possible violations of Foreign Corrupt Practices Act in the US as MNC subsidiaries in key emerging market economies face the heat of tougher anti-corruption rules and rising instances of whistleblowers. The NYSE-listed Beam has a fully-owned local subsidiary and its Teacher's brand is the largest selling scotch here.



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