Thursday, May 15, 2014: Indian Commerce & Industry Ministry may come to the rescue of Korean electronics maker Samsung in the fraud case against the company, that was filed by an Indian vendor. The vendor has alleged that Samsung has not paid its dues worth $1.4 million.
According to reports, the ministry is now planning to reach out to the finance ministry to get the details on exports made by Delhi-based vendor JCE Consultancy. The details are sought by Samsung, informed an official from the Department of Industrial Policy & Promotion (DIPP) to Business Line. The required details are not available with the commerce ministry. The Business Line report quoted the official saying, “Samsung Electronics wants information on exports made by JCE in the period when the vendor has alleged non-payment by the company. We do not have the data within the Ministry and are considering asking Directorate General of Systems & Data Management, under the Finance Ministry, for it.”
While DIPP, the industry wing of commerce ministry has promised Samsung to extend all possible help in the case, the finance ministry might not be as keen. Also, the case dates back to 2001-02, which makes it all the more difficult to access information. A Ghaziabad trial court had directed Samsung’s Chairman Lee Kun-Hee to make a personal appearance before the court in six weeks’ time. However, the direction were upheld by the Supreme Court.
The company sought DIPP’s help for an exemption for Lee from making an appearance, but the department clarified that the company has to sort it with the court on its own. Commenting on the case, Samsung reportedly said that it has nothing to do with the aforesaid transaction and it hopes that it can prove its innocence on the basis of the information on exports made by JCE to the Dubai-based firm.
