Samsung chief to surrender in Indian court in six weeks, says Supreme Court: 2 April 2014

Samsung Electronics' Chairman Lee Kun-heeSamsung Electronics’ Chairman Lee Kun-hee

The chairman of Samsung Electronics, the flagship of the Samsung conglomerate, must appear in a Ghaziabad court within six weeks in connection with a cheating case and seek bail, the Supreme Court said today.

Lee Kun-hee, 72, had asked for the case to be dropped -a request the Supreme Court has rejected.

In 2013, the 72-year-old billionaire was declared an absconder by the Allahabad High Court in a $1.4 million or Rs. 8.4 crore ($1 = Rs. 60) cheating case filed by an Indian company which says Samsung has defaulted on a payment.

Lee Kun-hee, who is South Korea’s wealthiest individual, fought a high-profile battle with his older brother, a sister and a nephew’s wife who all wanted a bigger piece of the Samsung cake.

Lee Kun-hee, the third son of Samsung founder Lee Byung-chull, was tapped in 1979 by his father to lead what would become South Korea’s most valuable company

…………. NDTV | Reported By: A Vaidyanathan | Updated On: April 02, 2014 12:30 (IST)

http://profit.ndtv.com/news/corporates/article-samsung-chief-to-surrender-in-indian-court-in-six-weeks-says-supreme-court-384491

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