SC to Samsung CEO: Appear in Ghaziabad court
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The Supreme Court of India has asked Lee Kun-hee, chairman of Samsung, to appear in front of a Ghaziabad trial court within six weeks involving an alleged fail payment case
Caught in a legal battle that’s taken an embarrassing turn, Samsung just can’t catch a break. And you gotta love the Supreme Court of India for breathing down their neck.
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In what can only be termed as the most bizarre news of the day, the apex court in India has directed Lee Kun-hee, the 72-year-old chairman of South Korean electronics giant Samsung, to appear in a Ghaziabad trials court within six weeks.
Why? Because JCE Consultancy, an Indian company, is accusing Samsung of failing to pay them their rightful dues that amounts to US $1.4 million, which is about Rs. 8.4 crores.
Bemusing! Not because Samsung’s global chairman could be asked to appear in a trials court for such a paltry sum, but the fact that this case has been dragging along since 2002. Twelve years!
According to a Business Standard report, Samsung Electronics has clarified their position by claiming that the case filed against them in India stems from a bill-of-exchange used in a fraudulent multi-million dollar scheme perpetrated against a Samsung subsidiary in Dubai.
In the same report, a Samsung spokesperson said: “Chairman Lee has no relation to this case. There are no grounds, let alone evidence, to support the accusation against Lee, who is not involved in the day-to-day operations of the many overseas subsidiaries of Samsung.”
Lee Kun-hee in all probability is the first chairman of a global company summoned to appear before a trial court in India. How this case will be played out, and affects Samsung Electronics’ — with a turnover of over Rs 25,000 crore in India — business in the country, remains to be seen.