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BMW Financial Services MD gets bail

July 26, 2014 05:46 pm | Updated 05:46 pm IST - HYDERABAD:

V RISHI KUMAR
HYDERABAD (TS) - 26-07-2014 - BL/ REPORT : V. RISHI KUMAR : Stefan David Schlipf , Managing Director and Chief Executive of BMW Financial Services who has been arrested by the Trimulgherry Police in Secunderabad in a misuse of capital limit case by the BMW on a dealer -Delta Cars ,to an extent of Rs 4 Crore . He was given bail by the court on Saturday --PHOTO: P.V.SIVAKUMAR .

HYDERABAD (TS) - 26-07-2014 - BL/ REPORT : V. RISHI KUMAR : Stefan David Schlipf , Managing Director and Chief Executive of BMW Financial Services who has been arrested by the Trimulgherry Police in Secunderabad in a misuse of capital limit case by the BMW on a dealer -Delta Cars ,to an extent of Rs 4 Crore . He was given bail by the court on Saturday --PHOTO: P.V.SIVAKUMAR .

The XI Additional Chief Metropolitan Magistrate in Secunderabad on Saturday granted conditional bail to Stefan David Schlipf, MD and CEO of BMW Financial Services, in a cheating case filed by a former BMW dealer against the German company’s arm in India.

The Court here granted conditional bail to the executive directing him to cooperate with the investigation in line with the directives of the Court during the investigation.

The Court said any violation of these directives will mean cancellation of the bail.

This article was originally >published in The Hindu BusinessLine

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Hyderabad / corporate crime / judiciary (system of justice)

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