Ministry of Corporate Affairs refers Reebok India fraud case to Serious Fraud Investigation Office (SFIO). Corporate Affairs Minister Veerappa Moily said “something wrong” has been found in the books of Reebok India, which has accused two of its former top executives of a Rs 870-crore fraud.
The move followed a non-invasive scrutiny carried out by the Registrar of Companies (RoC), Delhi, which submitted the report to the Ministry earlier this week.
Reebok India had filed an FIR with the Gurgaon police last week alleging its former MD Subhinder Singh Prem and COO Vishnu Bhagat of Rs 870 crore fraud by indulging in “criminal conspiracy” and “fraudulent” practices over a period of time.
