predators adidas Adidas files defamation case against Subhinder Singh Prem
New Delhi: German sportswear maker Adidas AG Friday said it has filed a defamation case against former India Head Subhinder Singh Prem, who is named by the company as a co accused in the alleged Rs 870 crore fraud.
“Adidas AG filed a defamation criminal case against Subhinder Singh Prem on June 7, 2012, for the defamatory statements made by him regarding Adidas Group in the media,” Adidas Group said in a statement.
Last month, Adidas owned Reebok India had filed an FIR,
alleging that its former Managing Director Prem and Chief Operating Officer Vishnu Bhagat were involved in Rs 870 crore fraud by indulging in “criminal conspiracy” and “fraudulent” practices over a period of time.
Both the executives, however, had denied the allegations.
Following this, the Ministry of Corporate Affairs (MCA) had ordered a scrutiny of the books of accounts of the sportswear maker Reebok’s Indian arm.
Later, the case was referred to Serious Fraud Investigation Office (SFIO), the investigation wing of MCA,
and was given four months time to complete the probe.