The department of revenue investigations (DRI) is planning to call executives of Nestle India in order to ascertain financial details regarding the operations of the company.
The move comes even while the enforcement directorate is seeking information on certain export deals undertaken by Nestle India to CIS countries during the last 2-3 years, and to ascertain whether these deals had been in consonance with the foreign exchange regulations.
These two moves by the investigative agencies come at a time when Nestle India is struggling to counter the adverse fallout over the abrupt exit of managing director Daraius Ardeshir.
In a bid to reassure its business associates, Nestle India has informed them of the present situation and assured them that there would be no effect on their business. Confirming that the DRI is planning to call Nestle India for clarifications, a senior functionary in the agency said : We have been looking into details about the company for the last one year and we have an almost complete picture now.
We are planning to call the company for clarifications. He, however, refused to give any details.
Sources also confirmed that they are seeking information on the companys export deals to various countries, specially the CIS. We are seeking information regarding the financials of the company, specially export deals for the past few years. However, a prima facie case has not been formed against Nestle, we are just looking into its operations, said a senior official .
When contacted, a Nestle spokesman said: We would not like to comment on the matter until we get a official notification from them. He also clarified that these matters have nothing to do with the present situation which involves the resignation of Daraius Ardeshir.
The international agency KPMG, at the behest of the Nestle India board, is preparing a report on the structures and procedures of the company. This does not mean that there has been any dissatisfaction regarding the operations of the company in the past, reiterated the spokesman. Nestle Indias auditor is AF Ferguson.
