Sunday, 6 May 2012

Ex-MD Subhinder Singh sues Adidas over fraud charge, seeks Rs 15 crore in damages

Subhinder Singh Prem, the former boss of Adidas in India, has sued his former employer for Rs 15 crore in damages, in a dramatic escalation of hostilities between him and the German giant that have stirred up the usually sedate world of sporting goods MNCs.

Prem suggested that Adidas, which earlier this week said unspecified "commercial irregularities" in its Indian operations had forced it to take a Rs 870-crore charge, was fully in the loop on how the company was run.
http://articles.economictimes.indiatimes.com/2012-05-03/news/31558068_1_adidas-group-subhinder-singh-prem-severance-package

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