An Indian court has issued a warrant of arrest for Matthias Mueller, the chief executive officer and chairman of Porsche AG, the iconic German carmaker, and eight other executives from the company.
The bailable warrants come as a result of a court case filed by Precision Cars India, a former importer of Porsche cars based in New Delhi.
Precision Cars has been an importer for Porsche vehicles in India since 2003. However, when Porsche appointed Volkswagen Group Sales India as their sole importer in April 2012, they allegedly failed to inform Precision Cars, which Precision executives said left them no choice but to file a lawsuit.
“All along we have been making bona-fide efforts to sort out the issues with Porsche, but they are acting in an illegal and unjust manner and have not been giving any support in resolving the issues so we were not left any choice but pursue the matter legally and await justice,” Precision Cars India said in a statement.
The bailable arrest warrants, issued by the Court of the Additional Chief Metropolitan Magistrate No.3 in Jaipur, were issued on the basis of several charges including extortion, cheating, dishonestly inducing delivery of property, criminal breach of trust and criminal conspiracy filed against Porsche AG by Precision Cars India.
Mr. Mueller, who was contacted at the auto show in the United States, said lawyers were investigating the issue and that he had no further comment.
Because accused executives are originally from Germany and the United Arab Emirates, the Central Bureau of Investigation has written to the Interpol in a letter dated November 8, 2012 asking that, “necessary action in the matter” be taken up with the concerned countries.
From January 2011 to March 2012, Precision Cars sold an average of 35 cars per month. During Porsche India’s first month of working with Volkswagen in India, in October 2012, the company sold 117 cars, followed by 51 cars in November.
India Ink: Indian Court Issues Warrant for Porsche C.E.O.'s Arrest
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India Ink: Indian Court Issues Warrant for Porsche C.E.O.'s Arrest
