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FIR filed against Top Line Shoes directors
Our Bureau
Ahmedabad
,
July 15
THE Registrar of Companies (RoC), Vadodara, has filed a complaint against six directors of Top Line Shoes for siphoning off public funds.
The police have filed an FIR in this regard and an investigation has commenced against the six directors of the company, including former Indian cricketer Mr Sunil Gavaskar, for allegedly diverting public funds for personal gains.
The company had raised Rs 4.65 crore through an IPO in 1992 and thereafter did the `vanishing act' and got listed among the many vanishing companies that hit the Indian primary market in the early 90s.
As per the public issue document, the money was raised by Top Line Shoes for its development and expansion activities.
According to the Vadodara Commissioner of Police, Mr Sudhir Sinha, the offence has been clearly laid out against the accused. Now it was the job of the police to see that necessary evidence was collected against each director, he said, adding that there was no doubt from residential proof and so on that one of the accused was Mr Sunil Gavaskar, the cricketer.
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