The Supreme Court has ordered Samsung Electronics Chairman Lee Kun-hee to appear before a local court in Ghaziabad within six weeks to avoid his arrest in a decade-old dispute with a supplier over a $1.4 million or Rs. 8.4 crore payment.
A bench of Justice CK Prasad and Justice PC Ghose had on Monday dismissed 72-year-old Lee's petition challenging Allahabad High Court order dismissing his plea to quash the non-bailable warrant (NBW) issued by the trial court.
The bench, however, said the warrant against Lee would not be executed for six weeks.
Lee faced the warrant after he did not appear in the case before the trial court where the supplier has lodged a cheating case against him.
JCE Consultancy had filed a complaint against Lee in the Ghaziabad court alleging Lee had cheated him of $1.4 million.
Lee is South Korea's richest man with a net worth of $11.2 billion, according to Forbes.
In a statement, Samsung said Lee had no connection with the case, which it said was related to a "multi-million dollar fraud scheme" perpetrated against a subsidiary in Dubai.
"There are no grounds, let alone evidence, to support the accusation against Chairman Lee," the company said. "We are confident that the Indian courts will recognise the innocence of Chairman Lee and deliver justice."