SFIO report on Reebok likely in two months: Moily

The Serious Fraud Investigation Office SFIO may submit within two months its report on the probe into the alleged Rs 870-crore fraud in Reebok India by two former top executives of the company,Corporate Affairs Minister Veerappa Moily said on Friday.

We union government have given four months for SFIO to investigate and give us a report on the matter. The agency is briskly probing the issue. May be within two months SFIO may come out with a report, he told reporters here on the sidelines of a national conference on State of Corporate Fraud Control in India.

Last month,Adidas-owned Reebok India had lodged an FIR alleging that its former managing director Subhinder Singh Prem and former chief operating officer Vishnu Bhagat were involved in the Rs 870-crore fraud by indulging in criminal conspiracy and fraudulent practices over a period.