Percept MD Harindra Singh summoned in cheque bouncing case

Singh has been Singh directed by the Metropolitan Magistrate to appear in person on 5th October 2021

e4m by exchange4media Staff
Updated: Aug 2, 2021 2:21 PM

Shailendra Singh, who stepped down as joint MD of Percept in 2017, has accused his brother Harindra Singh, Chairman and Managing Director of Percept Ltd of not honouring a cheque amounting to Rs 11 crore and 10 lakh.

This is not the first time the brothers have been in this financial feud. This legal battle between estranged brothers who had founded Percept Ltd in 1984 started has dominated headlines since 2017.

According to the details available, Harindra Singh has received a summons from the Metropolitan Magistrate to appear in person on 5th October 2021 in the check bouncing case.

Speaking to Everything Experiential, Shailendra Singh said, “I was supposed to receive Rs 11 crore and 10 lakh as part of the family arrangement that we had agreed upon. However, the cheque was bounced and after 18 months the court has issued the summons.”

“There's a dispute between us on the FSA, hence this amount isn't payable”, said Harindra Singh when we reached out to him for his version regarding the summons.

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