NEW DELHI, June 25 (Reuters): Indian online retailer Snapdeal has filed a police complaint against some former directors and former management of a local logistics company, in which it owns a stake, accusing them of defrauding the company of 3.57 billion rupees ($55.37 million), a police report showed. The company, which is backed by Japan’s Softbank, accused some former directors and former management of Quickdel of misappropriation, cheating and misleading it, in the police first information report filed in New Delhi on Friday. Reuters has a copy of the police report. Vineet Rai, the administrative officer at the Gurgaon headquarters of Quickdel, said the company could not immediately comment. A spokeswoman for Snapdeal was not reachable by phone. Snapdeal said it had bought a 49.99% stake in Quickdel in 2014 and early 2015, after the former heads of the logistics company said it would help the two to grow the business. Snapdeal said in the police complaint that it realised later that the former heads of the logistics firm had misrepresented facts. Snapdeal has been at the center of takeover speculation, with its largest backer Softbank seen as keen to sell the company to its larger rival, Tiger Global-backed Flipkart.
