Finally we did it yessss -> Adidas India hit by RS 1,350 cr (USD 270 million) internal fraud Great show keep it up :)

[alok agarwal]

Mumbai: Adidas, the world’s second largest sports goods maker, may take a Rs 1,350 crore hit after unearthing a massive commercial fraud in its Indian unit. The German giant has already booked a negative impact of €125 million and warned it could suffer a further €70 million loss barely a month after replacing the local leadership team in India.
   This makes it one of the worst financial irregularities to surface in the Indian arm of any MNC, and comes amid mounting concerns over corporate governance issues in the country. TOI had first reported on March 27 that managing director Subhinder Singh Prem and chief operating officer Vishnu Bhagat had exited the local unit of Adidas, which also owns Reebok, after it plunged into the red due to financial irregularities.