Hyderabad: The Trimulgherry police on Friday arrested German national Mr Stefan David Schlipf, 45, managing director and chief executive of BMW Financial Services Private Limited, in a case booked against him here in the city.
Mr Schlipf, who is the head of the subsidiary company of automaker BMW in India was arrested from New Delhi. He was produced in court and sent to judicial remand for 15 days.
In 2010, Delta Cars Pvt Ltd in Trimulgherry had lodged a complaint against the BMW Financial Services Company alleging that it had dumped BMW cars on the dealer, which in turn couldn’t be sold, causing about Rs 49 lakh loss during 2008 and 2009.
A case was registered under Sections 120A, 406, 415, 418, 420,463 and 464 IPC r/w 156(3) CrPC against Mr Schlipf and BMW India Pvt Ltd, represented by Mr Peter Friedrich, its president and MD.
