New Delhi: A district court in Gurgaon granted bail to Surakshit Bhatt on Tuesday, one of the 11 suspects arrested in the alleged case of fraud at Reebok India.
“There was nothing found against him. He had only introduced the company KK Enterprises (an alleged ghost distributor). However, no stock was ever transferred to the company,” said Prashant Mendiratta, lawyer representing Bhatt.
Bhatt, who has been in judicial custody since 19 September, will be released on Thursday. He has to surrender his passport to Gurgaon police and submit two sureties of Rs.1 lakh each in the court under the bail terms, Mendiratta said.
Bhatt, who is sales manager (institutional sales) at Reebok India, has been restrained from entering the company premises while the investigations are under way. “We shall be challenging this condition because it violates my client’s right to employment,” said Mendiratta.
Bhatt’s bail plea had been rejected by the same court in October.
Earlier this month, Gurgaon police filed charges booking the total loss incurred by Reebok India on account of the alleged financial irregularities at Rs.11.3 crore, a fraction of the Rs.870 crore mentioned in a 21 May first information report (FIR), Mint first reported.
The Serious Fraud Investigation Office, a part of the ministry of corporate affairs and which is also investigating the alleged Reebok scam, will submit its report by 30 November.