The Supreme Court has restored a criminal case against Moon June Seok, the former Chief Financial Officer of Daechang Seat Automotive, a manufacturer of car seat frames. .Seok was one of the accused in a case of financial fraud committed against Daechang. However, the proceedings against him were quashed by the Karnataka High Court last year.On an appeal moved by the company, the Bench of Justices Sanjay Karol and Ahsanuddin Amanalluah found that Seok's own statement revealed that there was a possibility that he may have received money from other accused. Thus, the Court said he must face trial.The rule of law has a responsibility to protect the investments of foreign investors, the Court underscored."At this stage, we are unable to convince ourselves that coming to such a conclusion would be just, reasonable, and proper, more so, keeping in view the large amounts of money involved. 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 appeal is, therefore, allowed," the Court said in its judgment of April 8 while allowing the company's appeal..Seok is accused in the case alleging fraud and misappropriation of about ₹10 crore in the name of GST payments, along with co-accused chartered accountants and financial advisors. The case was registered in 2022. After the filing of the chargesheet, the trial court took cognizance of the matter in 2023. The High Court, while quashing the proceedings against him, had observed that no prima facie material was placed on record for framing charge against Seok."There is no role to play by this petitioner, except forwarding the bills to the Managing Director. Therefore, without any material evidence collected against the petitioner that the contention of the learned counsel for respondent that the petitioner has conspired with accused Nos.1 to 4 and misappropriated nearly Rs.10 crores, cannot be acceptable," the High Court had said. This led to the appeal before the Supreme Court by Daechang Seat Automotive..Senior Advocate Sidharth Luthra appeared for Hyeoksoo Son, authorised representative of aggrieved company Daechang Seat Automotive Ltd, seat manufacturer for ‘KIA’ cars. .Senior Advocate Rajiv Shakdher appeared for the respondent-accused..[Read Judgment]
