Twitter
Advertisement

US's SEC investigating Kraft for corruption in India

Kraft, the marker of Maxwell House coffee, Oscar Meyer lunchmeats and Velveeta cheese, received a subpoena from the SEC on February 1, the filing said.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

The US Securities and Exchange Commission (SEC) is investigating Kraft Foods Inc for possible corruption at a facility of its Cadbury unit, the company said in a regulatory filing.

Kraft, the marker of Maxwell House coffee, Oscar Meyer lunchmeats and Velveeta cheese, received a subpoena from the SEC on February 1, the filing said.

The subpoena, issued in connection with the Foreign Corrupt Practices Act, requests information about company dealings with Indian government agencies and officials related to obtaining approvals for operations of the facility.

Kraft, which bought Cadbury in February 2010, said in the filing that it is cooperating with the US government in the investigation. The company said it does not expect that costs of any resolution will effect its financial results.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement