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 details available, Harindra Singh has received 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 11cr 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.”
We tried to reach out to Harindra Singh for his version regarding the summons, however he did not respond to our messages.