Reebok India alleges Rs 8,700 cr fraud by former MD, COO

May 23, 2012

reebok_mega_fraudnew


New Delhi: In what could the second biggest corporate scandal after Satyam, Reebok India has alleged a Rs 8,700 crore fraud by its former Managing Director Subhinder Singh Prem and former Chief Operating Officer Vishnu Bhagat.

Reebok lodged an FIR with the Gurgaon police alleging that Prem and Bhagat had 'stolen' products by setting up 'secret warehouses', fudged accounts and indulged in fictitious sales to cause a multi-crore dent to the company.

When the alleged scam came to light in March 2012, Singh, who had been made the Managing Director of Adidas India in 2011 as a part of an integration of the businesses of both Adidas and Reebok brands, was dismissed from the company. Bhagat's services were terminated too.

The company's financial director, Shahim Padath, later lodged a formal complaint against the duo.

The economic cell of Gurgaon police conducted a probe and found that Singh and Bhagat had allegedly rented four warehouses without informing their seniors and used them to store goods and claimed they were supplied to genuine dealers.

They also allegedly siphoned off goods to ghost companies and distributors across the country, claiming they were defective pieces.




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Agencies
March 15,2020

Mumbai, Mar 15: Three suspected coronavirus patients who were quarantined left a government hospital in Maharashtra's Ahmednagar district on Saturday evening without informing anybody, the police said.

By late night, however, two of them returned to the Ahmednagar district civil hospital. Search was on for the third patient, a Topkhana police station officer said.

Earlier, two women and a man admitted to an isolation ward of the district hospital in Ahmednagar, left without informing the doctors, an officer said.

The civil surgeon contacted the Tophkhana police station in Ahmednagar city and sought polices help in tracing these persons, whose medical reports are awaited, the official added.

A person in Ahmednagar district is among the 31 confirmed cases of coronavirus in Maharashtra.

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Agencies
January 11,2020

New Delhi, Jan 11: Assets worth Rs 78 crore have been attached by the ED in connection with a money laundering probe against former ICICI Bank Chairman Chanda Kochhar and others, officials said on Friday.

A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued for attachment of the properties that includes Kochhar's Mumbai-based house and some other assets belonging to a company linked to her, they said.

The book value of the attached assets is Rs 78 crore, they said.

The Enforcement Directorate (ED) is probing Kochhar, her husband Deepak Kochhar and others in a case of alleged irregularities and money laundering in giving loans by the bank to the Videocon group.

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Agencies
May 26,2020

New Delhi, May 26: A massive fire broke out on the intervening night of Monday and Tuesday in the slums of the Tughlaqabad area in south east Delhi in which over 250 shanties were gutted, however, no one was injured, fire officials said.

Atul Garg, Chief Fire Officer, told IANS, "We came to know about the fire in the slums around 12.15 a.m. following which 28 fire tenders were rushed to the spot. And the fire was brought under control by 4 a.m."

He said, the Tughalaqbad slums have over 500 shanties, out of which over 250 have been destroyed in the fire.

He said, it took time for the fire tenders to reach the spot as it was on the hills, but the fire was doused within four hours and by 8 a.m. cooling off procedure has also been completed.

When asked if there is any casualty in the incident, he said, "No injury or casualty has been reported."

He also said that as of now the actual reason for the fire is not known. "But we are trying to find out the reason of the fire," Garg added.

South East Deputy Commissioner of Police R.P. Meena said, "In the night it seemed that almost 500 shanties were gutted. However, in the morning it became clear that only 250 shanties have been gutted in fire."

He said, the South East district police after receiving the call also rushed the ambulances and the local police team in the area for rescue operation. Meena further said that very few people were residing in the shanties, and the people came out of their shanties after the fire broke out in one of them.

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