Adidas-Reebok Case Report Likely in Four Months
A federal minister said that India's Serious Fraud Investigation Office "will submit its report in about four months" in a case in which adidas recently alleged financial irregularities by two former executives at its Reebok India operations, according to Romit Guha of the WALL STREET JOURNAL's blog Deal Journal India. Federal Corporate Affairs Minister Veerappa Moily said, “We told the SFIO to give the report within four months. Perhaps they might give the report earlier than that.” The investigating arm of SFIO had been asked to look into the case. Adidas filed a criminal complaint against the former chief of its India operations and another former senior employee for alleged financial and commercial irregularities (WALL STREET JOURNAL, 6/8).