SC Revives Case Against Korean; Cites Rule of Law & Investor Protection
New Delhi: The Supreme Court has said the rule of law has a responsibility to protect the investments of foreign investors, as it revived criminal proceedings against a Korean national for fraud with a company in the name of GST payments.
The top court set aside Karnataka High Court's order which quashed proceedings against Moon June Seok, then Chief Financial Officer of a complainant company for alleged fraud and misappropriation of about Rs 10 crore in the name of GST payments, along with co-accused chartered accountants and financial advisors.
A bench of Justices Sanjay Karol and Ahsanuddin Amanullah said let it be proven in a trial that there is no evidence against him and he deserved to be acquitted in the case.
"The rule of law has a responsibility to protect the investments of foreign investors, while at the same time ensuring that any person accused of mishandling such funds is really and fully protected by the power of the phrase ‘innocent till proven guilty’," the bench said.
Upon hearing senior advocate Sidharth Luthra for Hyeoksoo Son, authorised representative of aggrieved company Daechang Seat Automotive Ltd, seat manufacturer for ‘KIA’ cars, the court restored the proceedings against Moon June Seok, and directed the parties to appear before the court in Bengaluru on April 16, 2025.
"At this stage, we are unable to convince ourselves that coming to such a conclusion (that the proceedings should be quashed) would be just, reasonable, and proper, more so, keeping in view the large amounts of money involved," the bench said in its judgment on April 8, 2025.
