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Reuters Exclusive: Pernod Ricard gave its Scotch whisky imports unique internal codenames in India -- part of a scheme to conceal the true value of imported Scotch and slash custom tariff payments, India investigators say. From Scotland, they shipped bulk Scotch concentrates -- the raw soul of whiskies like Royal Stag. India-only internal names: RFM. HMW. Rich Fruity Malt. Heavy Malt Whisky. But the product hadn't changed. The recipe hadn't changed. And by also obscuring composition and age, investigators allege, Pernod made it impossible for customs to compare its import prices against rivals -- and so paid far less in tariffs than it should have. Investigators summed it up: "Simple products of Scotland.. were complicated just to avoid comparison with similar goods imported." Pernod says the codenames referred to a "bouquet of reconstituted Scotch malts".  It is also arguing Indian officials wrongly excluded dozens of other companies that imported Scotch concentrates at lower prices and instead selectively compared it to India's Allied Blenders & Distillers New documents reveal unreported details of the high-stakes battle. Pernod's tax liability currently stands at nearly $314 million. With penalties, the total payout could be more than $600 million if Pernod loses - an amount that is a fifth of its last year's Indian revenue of $2.9 billion. The fight is significant: India is Pernod's biggest market in the world by volume. Full story with court document details 👇 tinyurl.com/3t73nwd8

Hong Kong overtakes Switzerland as world's top cross-border wealth hub on China ties, report shows reuters.com/business/finan…

Vietnam leader to visit Philippines next week for trade, security talks reuters.com/world/china/vi…