Beer trading news. Top Beer Stocks for Q1 2021
The CCI members could agree with or dispute the findings of its investigation team.
At least three times, executives exchanged messages urging one another to keep their plans quiet, the report showed. The report concluded the cartel existed between and October The CCI did not respond to Reuters queries.
United Breweries, part-owned by Heineken, said it had cooperated with authorities and would make submissions to the CCI. Investigation, 'clear admission' The CCI raids in seized hundreds of files and more than 2 terabytes of data from laptops, pen drives and smartphones.
Later inUB and Carlsberg also filed leniency applications, Reuters has reported. Under the programme, the CCI can reduce the penalties it imposes on companies depending on the cooperation they provide.
Jensen declined to comment. Some discussions took place over WhatsApp, the report says.
Top Beer Stocks for Q1 2021
The report shows that inthe chief sales officer of UB, Kiran Kumar, and then-managing director of SABMiller, Shalabh Seth, exchanged WhatsApp messages to plan a 60 rupee 81 cent price increase per case of beer in a particular state.
They beer trading news declined to comment further.
States regulate taxes and prices, which are every year approved by local authorities. Tax earnings on alcohol also form a major part of state revenue in India, and the investigation said the beer companies had held talks at least three times between and to create artificial scarcity and pressure governments on policy changes.