Reebok fraud: Parent adidas welcomes MCA action

Responding to a detailed questionnaire on the SFIO action, adidas Group said that Reebok India is a victim of the fraudulent activity.

Govt starts prosecution proceedings in Reebok fraud case

In its FIR filed with police last year, Reebok had alleged financial fraud to the tune of Rs 870 crore at the company by certain persons including senior executives of its India arm.

SFIO to soon start prosecution proceedings in Reebok case

Sources said that SFIO has received the go-ahead from the Corporate Affairs Ministry to proceed with prosecution in the Reebok case.

Reebok India fraud 'deep in the past': Adidas India MD

Terming last year's Rs 870 crore fraud at its arm Reebok India as a 'thing in the past', Adidas India MD Eric Haskell has said the company is now focused on building the brand and driving growth.

MCA likely to take final view on Reebok probe report soon

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.

Corporate Affairs Ministry to prosecute Adidas

As the parent company, Adidas which had acquired the Reebok in 2005, the ministry is gearing up to launch a formal prosecution within next few days.

SFIO submits final probe report on Reebok India

The Serious Fraud Investigation has submitted to government its final probe report on alleged financial irregularities at sportswear maker Reebok India.

Reebok India to open 100 'fit-hub' stores by early 2014

Putting behind the 211 million euro hit due to alleged fraud at its arm Reebok India, Adidas group is now focusing on growing the brand with plans to open 100 'fit-hub' stores by early 2014 that will account for a major portion of Reebok's such new concept outlets worldwide.

Adidas takes euro 153 mn hit due to Reebok India irregularity

German sportswear giant Adidas on Thursday said its balance sheet for 2011 is negatively impacted by euro 153 million (over Rs 1,090 crore) due to 'commercial irregularities' at its arm Reebok India Co.

Reebok charts new retail concept, mktg initiatives in India

Besides using its brand ambassador and Indian cricket captain M S Dhoni, the firm intends to use well known personalities from different walks of life such as musicians, entertainers and professionals in its campaigns to enhance its brand equity in India.

Adidas brings ex-China head to lead India operations

Haskell takes over from Claus Heckerott, who led the restructuring efforts at Reebok India that had filed an FIR alleging fraud by its former MD Subhinder Singh Prem and COO Vishnu Bhagat, which both of them have denied.

SFIO asked to probe fraud by 83 companies since 2008: Pilot

SFIO, the investigation arm of the Corporate Affairs Ministry, has been ordered to probe alleged fraud in 83 companies in the last four years, Parliament was informed Thursday.

SFIO report on Reebok India affairs likely by Nov

The Serious Fraud Investigation Office (SFIO), probing the alleged irregularities at Reebok India, is likely to submit its report by November as the sports wear maker is still finalising its accounts.

Reebok India case: Corporate mismanagement led to scam

The I-T which has indicated to an alleged Rs 140 crore tax evasion in the case, the sources said, will now work to ensure that the company, later, does not claim any "bad debt".

Reebok fraud case: five officials remanded to police custody

A local court on Thursday remanded the five officials of Reebok India, including its sacked MD Subhinder Singh and former COO Vishnu Bhagat, who were arrested here for their alleged involvement in a Rs 870-crore fraud in the company, to seven-day police custody.

Reebok's ex-MD, COO among five arrested for fraud

Subhinder Singh and Bhat were booked for fraud, criminal conspiracy and other charges under IPC for allegedly siphoning off the sportswear maker company's money by creating ghost distributors.

Reebok franchisees hold rally, ask return of investment

Over 150 franchisees of Adidas Group's Reebok India from northern states took to the streets Monday demanding return of their investments.

Sell items at 50% off and exit, Reebok tells unhappy partners

Sportswear major Reebok India has asked its franchisees, who are unwilling to move to a 'new business model', to liquidate products at discounts of up to 50 percent, while giving them time till November-end to exit.

Reebok's Delhi franchisees cry foul over notice to close shop

The franchisees claimed that they received notices from Reebok India's parent Adidas Group on August 13 for closing down their stores by August 31 if they do not accept the new terms of the agreement.

ED probing Reebok India under forex laws: Govt

The Enforcement Directorate has initiated a probe against Reebok India under foreign exchange laws, government said in Parliament on Thursday.