Senior BMW executive arrested for cheating
26 July 2014 6:46 AM IST
The city police arrested a senior executive of German car maker BMW on charges of cheating and conspiracy, official sources said here on Friday.
According to North Zone DCP R Jaya Lakshmi, the case was referred by a court, based on a complaint filed in 2010, and BMW India Financial Services Private Limited’s Managing Director Stefan Schlipf was arrested in this connection.
‘We arrested him following the due procedure. He was produced before a court and remanded,’ the police official said.
According to the court remand report, Schlipf was arrested yesterday in Gurgoan and brought to Hyderabad on Friday on a transit remand.
Reports indicate that BMW India, which is represented by its President and Managing Director is the prime accused in the case, while Schlipf is accused number 6. Meanwhile, BMW issued a statement today which condemned the arrest of its executive.
‘BMW Group India has raised a strong objection to the arrest of Schlipf with the authorities. Schlipf was not present in India during the period of dispute. The company considers this incident as completely unacceptable. As one of the most reputed global companies, the BMW Group has very strict compliance guidelines and processes. BMW Group India or any of its directors have not engaged in any wrongdoings,’ BMW said in its statement.
According to North Zone DCP R Jaya Lakshmi, the case was referred by a court, based on a complaint filed in 2010, and BMW India Financial Services Private Limited’s Managing Director Stefan Schlipf was arrested in this connection.
‘We arrested him following the due procedure. He was produced before a court and remanded,’ the police official said.
According to the court remand report, Schlipf was arrested yesterday in Gurgoan and brought to Hyderabad on Friday on a transit remand.
Reports indicate that BMW India, which is represented by its President and Managing Director is the prime accused in the case, while Schlipf is accused number 6. Meanwhile, BMW issued a statement today which condemned the arrest of its executive.
‘BMW Group India has raised a strong objection to the arrest of Schlipf with the authorities. Schlipf was not present in India during the period of dispute. The company considers this incident as completely unacceptable. As one of the most reputed global companies, the BMW Group has very strict compliance guidelines and processes. BMW Group India or any of its directors have not engaged in any wrongdoings,’ BMW said in its statement.
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