Industrialist Nikhil Nanda has been booked under charges of fraud and abetment to suicide in Uttar Pradesh. According to multiple reports, a case has been filed against Nanda in UP's Badaun district.
A report in ETV Bharat stated that the complaint was filed by a resident of Papad Hamzapur village, named Gyanendra, who claimed that Nanda pressurised his brother Jitendra Singh, which led him to end his own life.
The complaint stated Jitendra previously ran a tractor agency named Jai Kisan Traders in Dataganj, Budaun, along with his business partner Lalla Babu. The latter was imprisoned due to a family dispute and Jitendra was left to manage the agency alone and that is when Nanda and his company Escorts Kubota came into the picture.
Gyanedra, in his complaint, accused Nanda along with several other employees of his company, of putting endless pressure on Jitendra to increase sales, and the latter eventually succumbed to the pressure and claimed his life.
Nanda and the others named in the complaint have also been accused of threatening Jitendra to meet the sales targets or dealership license would be revoked.
A case was registered against the accused based on a court order. The case names Nikhil Nanda, the company’s Chairman and Managing Director (CMD), along with the firm’s Uttar Pradesh head, area manager, sales manager, a dealer from Shahjahanpur, and three other officials.
OFFICIAL STATEMENT OF ESCORTS KUBOTA LTD
Escorts Kubota Limited has recently become aware of a First Information Report (FIR) filed against certain company officials. As of now the Company has not received any official communication from the authorities regarding this matter. Our legal team is gathering all necessary details and if called upon to participate in any inquiry / investigation, we will fully cooperate with the authorities to ensure that the facts are established and the truth prevails.
We understand that the FIR also names senior officials of the company. The naming of senior officials appears to be influenced by factors unrelated to the incident. Such allegations are unfounded and the company is keen to ensure that the proper facts are ascertained.
We are committed to transparency and would cooperate with the authorities to ensure a thorough and fair inquiry. The company has full faith in the judicial process.
We urge all stakeholders and the public to refrain from drawing premature conclusions and to respect the investigative process.
The Company operates with the highest level of corporate governance, integrity, transparency and in full compliance with all legal & regulatory requirements.
For those unversed, Nikhil Nanda is the son of Raj Kapoor's daughter, Ritu Nanda. In 1997, he got married to Shweta Bachchan, and the two are now parents to Navya Naveli Nanda and Agastya Nanda.
