• Deccan Chronicle
  • Andhra Bhoomi
  • Asian Age
  • ePaper
  •  Auto Refresh
Home

ePaper
Last Updated:06:16 PM IST | Tuesday, Jun 28, 2022
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Menu
  • Home
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
Home > Companies > Ghosn sues Nissan and Mitsubishi for breach of contract: report
Companies
Ghosn sues Nissan and Mitsubishi for breach of contract: report
By  
AFP   , Published : Jul 18, 2019, 1:29 pm IST | Updated : Jul 18, 2019, 1:29 pm IST

Ex-chief of both Renault and Nissan Carlos Ghosn, is awaiting trial in Japan on charges of fraud.

Carlos Ghosn is accused of under-reporting millions of dollars in income at Nissan and of of using company funds for personal expenses -- charges he denies. (Photo: File | PTI)
Carlos Ghosn is accused of under-reporting millions of dollars in income at Nissan and of of using company funds for personal expenses -- charges he denies. (Photo: File | PTI)

Paris: Former auto titan Carlos Ghosn, currently under house arrest in Tokyo, is suing Nissan and Mitsubishi in a Dutch court for "improper termination" of his contract, French newspaper Le Figaro reported on Wednesday.

Ghosn is accusing the Japanese manufacturers of breaching his contract as an employee of NMBV, their joint subsidiary based in the Netherlands, and seeking up to 15 million euros (USD 16.8 million) in damages, it said.

The big-spending former chief of both Renault and its Japanese partner Nissan is awaiting trial in Japan on charges of financial misconduct. He was kept behind bars for over 100 days before being granted bail and sacked from all his management roles.

Ghosn is accused of under-reporting millions of dollars in income at Nissan and of of using company funds for personal expenses -- charges he denies.

His lawyers argue that while Ghosn resigned from Renault-Nissan BV (RNBV), he had not done so from NMBV and "the breach of contract" was unwarranted, Le Figaro said.

Nissan and Mitsubishi argue that Ghosn's contract was invalid as it would not have been submitted to NMBV's board, according to the daily.

NMBV had thanked Ghosn after a meeting of his board of directors on March 12, the same day as the announcement of its dissolution. Ghosn's spokesperson and his lawyer both declined to comment when contacted by AFP.

Le Figaro said the manufacturers were seeking to recover some 7.82 million euros paid to Ghosn by NMBV between April and November 2018. Renault announced in early June it was considering taking action against its former boss after it identified 11 million euros of "questionable expenses" linked to Ghosn at RNBV.

The 65-year-old Ghosn was arrested in Japan in November as he stepped off his private jet at Tokyo airport.

His dramatic downfall stunned the business world and laid bare tensions in the alliance between Renault, Nissan and their smaller Japanese partner Mitsubishi.

Ghosn has not been charged in connection with his activities at NMBV.

end-of
Tags: 
carlos ghosn, nissan, mitsubishi, renault, fraud
Location: 
France, ÃŽle-de-France, Paris
Latest From Companies
HUL CMD Sanjiv Mehta said the results show that the long-term structural opportunity of FMCG in India remains intact.

HUL Q1 net profit rises 5.7 pc to Rs 1,897 crore

The management of Radar has built and exited 3 different businesses themselves which helps the sensitise first time and even veteran entrepreneurs.

Radar India advisors scales a new high

The top seven cities of Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Pune and Bengaluru accounted for 4.45 billion km.

Delhi sees more night trips than Bengaluru, Mumbai, says Ola

Most Popular

Mukesh Ambani 9th richest on Forbes' real-time billionaires list
Top credit card myths harmful for your financial well-being
Microsoft CEO Satya Nadella tops Fortune's Businessperson of the Year 2019
Employment growth slowed down in last two years: report
GST structure: key challenges and its solutions

Editor's Picks

Income tax e-filers drop by over 6.6 lakh in FY19: Official data
Swiping on your smartphone reveals a lot about you to your social media company
  • Read Financial Chronicle as it appears in print.
  • Subscribe, and get it delivered in the inbox everyday.
  • Politics, Plan And Policy
  • Markets
  • Companies
  • Economy
  • In Other News
  • Autos
  • Just In
  • Home
  • About Us
  • Contact Us
  • Terms of Service
  • Privacy Guidelines
  • Copyright © 2019 Financial Chronicle, All rights reserved
Developed & Maintained By Daksham