5220

Ex-Reebok executives’ police custody extended for 6 days

They have been charged with falsification of records, diversion of funds, causing loss to the company and wrongful gain
Comment E-mail Print Share
First Published: Fri, Sep 28 2012. 03 49 PM IST
Reebok India’s sacked MD Subhinder Singh Prem being produced at a district court in Gurgaon. Photo: PTI
Reebok India’s sacked MD Subhinder Singh Prem being produced at a district court in Gurgaon. Photo: PTI
Updated: Fri, Sep 28 2012. 06 18 PM IST
New Delhi: The remand of the five former Reebok India officials arrested by Gurgaon Police was extended by six days.
“A district court in Gurgaon has extended the police custody of the five arrested for six days so we could continue further investigations in the case,” said Bhupinder Singh, assistant commissioner, Gurgaon Police.
The former Reebok India executives—Shubhinder Singh Prem, Vishnu Bhagat, Sanjay Mishra, Prashant Bhatnagar and Surakshit Bhatt—were arrested on 19 September for their alleged involvement in a Rs.870 crore fraud at Reebok India.
They have been charged with falsification of records, diversion of funds, causing loss to the company and wrongful gain.
The Serious Fraud Investigation Office (SFIO), probing the alleged irregularities at Reebok India, is likely to submit its report by November as the sports wear maker is still finalising its accounts.
SFIO, under the Corporate Affairs Ministry, is looking at the alleged Rs.870-crore financial scam at the company over a period of time.
A senior Corporate Affairs Ministry official said, “The SFIO is likely to submit its report on Reebok India by November since the company is in the process of finalising its accounts”.
Comment E-mail Print Share
First Published: Fri, Sep 28 2012. 03 49 PM IST
blog comments powered by Disqus
  • Wed, Apr 23 2014. 05 42 PM
  • Wed, Apr 16 2014. 06 11 PM
ALSO READ close

Nike Chinese contractor to boost pay in effort to end strike

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved