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India alleges Diageo, Sequoia Capital made suspicious payments to influence decisions

The Indian government has initiated an investigation into Diageo and Sequoia Capital, along with other entities, over allegations of suspicious payments amounting to $140 million. This probe, announced on January 10, 2025, targets the financial dealings of these companies, focusing on potential violations of foreign exchange laws. The investigation was spurred by a report from the Directorate of Revenue Intelligence (DRI) which highlighted that these payments were made to entities in tax havens like the British Virgin Islands and Cyprus. The scrutiny comes amidst broader efforts by Indian authorities to clamp down on financial irregularities and ensure compliance with international financial regulations. The case has drawn significant attention due to the involvement of high-profile companies and the substantial sums involved.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/retail-consumer/india-names-diageo-sequoia-capital-case-alleging-suspicious-payments-2025-01-10/ ]