ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Railways
  • World
    • Economy
    • Politics
    • Markets
  • Survey
  • videos
  • photos
  • More ...
    • VIDEOS
    • PHOTOS
BREAKING NEWS
  • Dalal Street Corner: Market ends flat even as FII selling nears exhaustion; what should investors do on Friday?
  • Exclusive: June GST collections estimated at Rs 1.37-1.39 lakh cr, sources tell Zee Business ahead of announcement on 1 July
  • Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM
  • Gold Price Today: Weaker Rupee to hold yellow metal slide domestically, amid strengthening Dollar; analyst suggests strategy
  • Monsoon session of Parliament to begin on July 18; to end on August 12
Read in App
Business News » World News

Renault, Nissan in board meetings before expected new Ghosn indictment

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App

Renault directors were due to be updated on the investigation into suspected financial misconduct by alliance boss Carlos Ghosn on Thursday, sources familiar with the matter said, as Nissan`s board met to discuss ways to bolster governance.

The meetings, first reported by French newspaper Le Figaro, come a day before Japanese prosecutors are expected to indict the Renault boss and former Nissan chairman on more charges.

A Renault spokesman did not return calls and messages seeking comment.

Both boards would be updated on the situation, people with knowledge of the matter told Reuters.

Nissan`s board said in a statement after a discussion on the latest developments surrounding Ghosn that it remained committed to its alliance with Renault and Mitsubishi Motors Corp .

The board also said it had decided on a new interim process to determine compensation for directors and executives, and had agreed to widen the scope of company decisions that will be reviewed by the board, as part of a drive to improve governance.

Ghosn and senior Nissan director Greg Kelly have been charged in Japan with failing to disclose $43 million in additional compensation for 2010-15 that Ghosn had arranged to be paid later.

Both men deny the deferred compensation agreements were illegal or required disclosure.

Ghosn, who remains in detention, is likely to be formally charged with aggravated breach of trust for temporarily transferring personal investment losses to Nissan in 2008, and for understating his compensation for three more years through 2018, a person with knowledge of the matter said earlier.

A member of Ghosn`s Japan-based legal team earlier told Reuters that Ghosn, 64, did not attend an interrogation session scheduled for Thursday due to a fever, and that he had been advised by a detention center physician to rest.

Carole Ghosn, the ousted Nissan chairman`s wife, released a statement on Thursday pleading with Japanese authorities for more information about her husband`s health.

"I recently learned that my husband is suffering from a high fever at the detention center in Tokyo, but my information is limited to news reports as no one in his family has been allowed to contact him since November 19," she said, adding that Japanese authorities have not provided Ghosn`s relatives with details about his treatment or condition, nor allowed them to speak to medical personnel at the detention center.

"We are fearful and very worried his recovery will be complicated while he continues to endure such harsh conditions and unfair treatment,” she added.

Ghosn said he was "wrongly accused and unfairly detained based on meritless and unsubstantiated accusations" during a court proceeding earlier this week, the car executive`s first public appearance since his November arrest.

Whereas Nissan ousted Ghosn as chairman within days of his arrest, Renault has so far kept him as chairman and CEO, deepening tensions within their 20-year-old carmaking alliance.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
Updated: Fri, Jan 11, 2019
12:15 am
Reuters
RELATED NEWS
US stocks see worst first half drop in over 50 years US stocks see worst first half drop in over 50 years
Rupee hits record low of 79.11 against US dollar in early trade Rupee hits record low of 79.11 against US dollar in early trade
Retail inflation for industrial workers rises to 6.97% in May Retail inflation for industrial workers rises to 6.97% in May
GST Council Meeting: Full details of goods and services, where rates hiked or slashed GST Council Meeting: Full details of goods and services, where rates hiked or slashed
HDFC NIMs to be under pressure for a quarter: Parekh HDFC NIMs to be under pressure for a quarter: Parekh

LATEST NEWS

GST Council Meeting: Full details of goods and services, where rates hiked or slashed

Eknath Shinde sworn in as 30th Chief Minister of Maharashtra, Fadnavis becomes Deputy CM

OnePlus Nord 2T 5G price in India starts at Rs 28,999 - Check offers, availability and specifications

LPG Cylinder Price: 19-kg commercial cylinder gets cheaper by nearly Rs 200; check rates in other Metro cities

Opening Bell: Nifty slips below 15,700, Sensex sheds over 350 points; Auto, Consumer Durables worst hit

Gold Price Today: Yellow metal surges by over Rs 1000 as excise duty hiked to 12.5% - check gold rate in your city

Xiaomi 12S Ultra confirmed to launch with Sony IMX989 sensor ahead of launch on July 4

Toyota Hyryder Unveiled: Toyota India unveils new self-charging hybrid electric SUV in India; check details

Stock Market Outlook: Our dependence on US market limited now, next 10-15 years belong to India, says Anil Singhvi | Here's why

Soon! Instagram to turn all your posts into Reels - All you need to know

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2022. India Dot Com Private Limited. All Rights Reserved.
LIVE TV