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Summoning Samsung chief to hurt investment: Trade Minister

Summoning Samsung chief to hurt investment: Trade Minister

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Describing Supreme Court's direction asking Samsung Electronics Chairman Lee Kun-hee to appear before a Ghaziabad court in a cheating case an "extreme step", Commerce and Industry Minister Anand Sharma today said it would adversely impact investment and business climate.

"Samsung is one of the largest companies of Korea and it has huge presence and investments in India...it sends a very negative message and will definitely adversely impact the investment and business climate.

"But the courts have to take a view. I feel that such extreme steps will send shockwaves amongst the corporate world. That should be avoided. The concerned authorities need to be very careful and exercise caution," he said.

Earlier in the week, Supreme Court had directed Samsung Electronics Chairman Lee Kun-hee to appear before a Ghaziabad court in a 1.4 million dollar cheating case filed against him.

Sharma said companies function in an executive hierarchical manner and their chairmen should not be summoned in case of complaints. "This is my view...it sends a very negative message," he added.

Meanwhile, B D Park, Managing Director, Samsung India and and CEO of company's south-west Asia operations, met DIPP Secretary Amitabh Kant. He was accompanied by Samsung India Deputy Managing Director Ravinder Zutshi.

A Supreme court bench had passed the order on an appeal filed by Lee challenging the Allahabad High Court's order dismissing his plea for setting aside arrest warrant issued against him.

The order was passed on a complaint filed by an Indian company, JCE Consultancy, against Lee in the Ghaziabad court for allegedly cheating it of 1.4 million dollar.

Lee had then approached the high court and the Supreme Court for quashing of FIR against him but his plea was rejected by both the courts earlier.

The trial court, thereafter, issued arrest warrant against him for not appearing before it in the case.
 

Story first published on: April 04, 2014 16:56 (IST)

Tags: Lee Kun, Anand Sharma, Lee Kun-hee, Samsung


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