Gurgaon cops yet to arrest top Reebok execs | india | Hindustan Times
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Gurgaon cops yet to arrest top Reebok execs

Gurgaon police seem to be in no hurry to arrest sacked Reebok India managing director Subhinder Singh Prem and COO Vishnu Bhagat despite lodging an FIR against them. The police’s ruse is that investigations into the alleged white collar crime have just begun and they need more evidence to nail the duo. Officers also dismissed suggestions that the duo could flee the country.

india Updated: May 24, 2012 00:44 IST
Sanjeev K Ahuja

Gurgaon police seem to be in no hurry to arrest sacked Reebok India managing director Subhinder Singh Prem and COO Vishnu Bhagat despite lodging an FIR against them. The police’s ruse is that investigations into the alleged white collar crime have just begun and they need more evidence to nail the duo. Officers also dismissed suggestions that the duo could flee the country.

“It’s a white collar crime and the investigations are based on documentary proof. We had taken down the complaint, as well as the third party audit conducted by law firm Kochhar & Company, on May 10. We lodged the FIR on May 21 after the economic offences wing (EOW) scanned the documents submitted by the firm. We have also formed an SIT for speedy investigations. We are not in a hurry to arrest the accused as we want to build up the case by collecting the required evidences against them,” said Gurgaon police commissioner KK Sindhu.

Subhinder Singh Prem, an accused along with COO Bhagat in the alleged R1,365-crore scam, had a humble beginning with the company as footwear merchandising manager in 1995 and rose through the ranks to become the managing director with a salary of R20.68 lakh. He is a graduate of IMT Ghaziabad.

Vishnu Bhagat, a chartered accountant, had joined the firm as manager (accounts), in 1996. After being elevated to the position of financial controller in 2000 and as CFO in 2003, he was designated as COO and drew a salary of R11.37 lakh. The employment contract of the duo was terminated on March 26 this year.

DCP (crime) Maheshwar Dayal said, “We will soon call both the accused to know their side of the story. We would also contact Reebok officials seeking substantiating documents against the accused to further investigate the case.”