Nikhil Nanda's company Escorts Kubota issues official statement after case of alleged fraud and abetment to suicide

Businessman Nikhil Nanda's company, Escorts Kubota Limited, has issued an official statement following the filing of an alleged fraud and abetment to suicide case against him and several other senior officials.

The statement reads, "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", it concludes.

According to a report from Navbharat Times, a case was registered against eight individuals, including Escorts Kubota head Nikhil Nanda, the company's state head, its area manager, sales manager, and a dealer from Shahjahanpur. As per reports, Gyanendra Singh, a resident of Papad Hamjapur village, lodged a complaint at the Dataganj police station. He mentioned that his brother Jitendra Singh operated a tractor agency, Jai Kisan Traders. Gyanendra claimed that Jitendra was subjected to pressure to increase the tractor sales by Escorts Kubota head Nikhil Nanda, the company’s area manager Ashish Baliyan, sales manager Sumit Raghav, UP head Dinesh Pant, financier collection officer Pankaj Bhaskar, sales manager Amit Pant, sales head Neeraj Mehra, and Shahjahanpur dealer Shishant Gupta.

It is alleged that Jitendra was subjected to threats and harassment by the accused officers and employees of the agency, who warned him that the agency would be shut down if sales were not improved. As a result, Jitendra fell into a state of depression. As a result of his depression, Jitendra took his own life and died by suicide on November 22, 2024. The deceased's family filed a complaint with the police at that time, but no action was taken. Now, the Dataganj police station officer Krishna Kumar Tiwari has shared to the portal that the court has ordered to file FIR against the Escorts Kubota head Nikhil Nanda, along with the UP head, area manager, sales manager, Shahjahanpur dealer, and three others, for allegedly abetting the suicide of agency owner Jitendra Singh.