Govt likely to take final view on Reebok probe report soon
7 Nov 2013 5:09 AM IST
With the Law Ministry giving its opinion on the SFIO probe report on alleged financial irregularities at sportswear maker Reebok India, Corporate Affairs Ministry is likely to soon take a final view on the issue.
The Serious Fraud Investigation Office (SFIO) had submitted its final report to the Ministry of Corporate Affairs (MCA) in August.
Later, the ministry had sought opinion of the Law Ministry on certain aspects of the report.
Sources said the Law Ministry has given its comments on the report and a final decision is likely to be taken soon by Corporate Affairs Minister Sachin Pilot.
The report is said to have found violations by the Indian as well as overseas management personnel at Reebok, sources said.
The case pertains to allegations of financial irregularities at the sportswear major's India operations. In its FIR filed with police last year, Reebok India had alleged financial fraud to the tune of Rs 870 crore at the company. Reebok India had alleged fraud by its former managing director Subhinder Singh Prem and former chief financial officer Vishnu Bhagat. Both of them have denied the charges.
The Serious Fraud Investigation Office (SFIO) had submitted its final report to the Ministry of Corporate Affairs (MCA) in August.
Later, the ministry had sought opinion of the Law Ministry on certain aspects of the report.
Sources said the Law Ministry has given its comments on the report and a final decision is likely to be taken soon by Corporate Affairs Minister Sachin Pilot.
The report is said to have found violations by the Indian as well as overseas management personnel at Reebok, sources said.
The case pertains to allegations of financial irregularities at the sportswear major's India operations. In its FIR filed with police last year, Reebok India had alleged financial fraud to the tune of Rs 870 crore at the company. Reebok India had alleged fraud by its former managing director Subhinder Singh Prem and former chief financial officer Vishnu Bhagat. Both of them have denied the charges.
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