Regulators reject Pernod Ricard's Delhi liquor license over alleged collusion
French spirits company Pernod Ricard is still locked out of Delhi after its liquor license was rejected.
Regulators say the company colluded with retailers, and they've rejected multiple appeals, pointing to public interest and regulatory risks.
That means no Chivas Regal or Absolut Vodka in Delhi shops, and it's been a big blow to Pernod's business.
Pernod Ricard denies collusion allegations
India's financial crime agency claims Pernod helped certain retailers get licenses and pushed for its brands to dominate their shelves.
The company denies any wrongdoing but keeps fighting in court, with another hearing scheduled for Thursday.
Losing the Delhi market has "Business in the national capital territory of Delhi has been hopelessly fettered. ", as it made up about 5% of its $2.86 billion revenue, but they're not giving up yet.