Verdict on bail plea of three accused in Reebok case today

The trial court will give its decision of bail plea of three accused in the Rs 870 crore Reebok India scam on Friday. Three accused - Somya, Anand Agarwal and Sanjeev Mishra - had applied for bail through their counsel in the court of JMIC Gurgaon.

Last month the first bail came in the case when Surkshit Bhatt, a former sales executive with Reebok, was granted bail by the same court after producing two sureties and depositing Rs 1 lakh. Two more persons accused - Vikas Uppal, a former company executive, and Prashant Bhatnagar, the company's head for logistics - in the alleged fraud case were released on bail on December 4. The hearing in the case for argument on charges in the charge-sheet is also scheduled for Friday.

In November, the Gurgaon police had filed charges booking the total loss incurred by Reebok India on account of the alleged financial irregularities at Rs11.3 crore, a fraction of the Rs870 crore mentioned in a May 21 first information report (FIR).

Meanwhile, the Serious Fraud Investigation Office (SFIO), the country's corporate fraud investigation body, has arrested 12 accused, including two main accused - Prem and Bhagat - in the Reebok India scam. The agency claims to have found evidence related to falsified documents amounting to sundry debtor charges up to Rs 500 crore. The court has already rejected the anticipatory bail application of two main accused Prem and Bhagat.

However, cops believe that four illegal warehouses were secretly hired by former MD Subhender Singh Prem, COO Vishnu Bhagat and warehouse incharge Prashant Bhatnagar in the name of 'Sanjeev Mishra'. The police said the accused were involved in the generation of fake sales and "falsification of books of accounts of Reebok since 2005".

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