Companies

Probing agencies seek more data in Reebok case

Our Bureau New Delhi | Updated on March 12, 2018 Published on October 12, 2012

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Investigating agencies probing into Reebok’s commercial irregularities have sought additional information from the company. Ernst and Young, which is conducting a forensic audit, has also shared its version of the report.

“Investigating authorities had requested for additional information for their ongoing investigation of the criminal complaint filed by Reebok India Company. Ernst & Young had also helped us to prepare this additional information and the findings have been shared with the investigating authorities.

“The objective of the report prepared by KPMG in the past was independent and does not have any link with the ongoing investigation pertaining to commercial irregularities at Reebok India Company,” Reebok India said when contacted.

The Serious Fraud Investigation Office (SFIO), which was to submit report by September 30, had sought extension citing delay in submission of documents by Reebok India. Sources said SFIO was likely to submit its report by November.

The Income Tax Department is also looking into issues of tax irregularities at Reebok.

Meanwhile, the Special Investigation Team on Thursday produced all the seven accused in the Rs 870-crore Reebok India in court and sent them to a 14-days' judicial custody.

“These seven accused were found to be helping Reebok's former Managing Director Subhender Singh Prem and ex-COO Vishnu Bhagat. Their services were terminated on the charge of siphoning off Rs 870 crore,” said Maheshwar Dayal, DCP (South-East).

The seven accused, Nikhil Upadhay, Anand Aggarwal, Lalit Marwah, Vikas Uppal, Manish Marwah, and Kapil Aggarwal, were managers at the company.

>bindu.menon@thehindu.co.in

Published on October 12, 2012
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