Carlos Ghosn Detention Extension Rejected by Tokyo Court

Carlos Ghosn who has been accused of financial misconduct in the Renault-Nissan alliance and was arrested for the similar charges may be released as early as Friday in this week. A District Court in Japan has rejected the request to extend his detention which could have been extended on separate charges till December 30. However, the Tokyo District Court has rejected the prosecutor's plea to extend his detention along with Greg Kelly who has been accused of helping Ghosn in the crime.

Ghosn who was heading the Renault-Nissan alliance was arrested in Tokyo allegedly for underreporting his income. Nissan Motor has already ousted Ghosn out of the company and the board has also voted to remove Gerry Kelly from his post of representative director. However, Renault has still kept him on board and has appointed an interim boss despite Nissan and Mitsubishi Motors have sacked him. Moreover, Nissan Motor has also shelved plans to choose a successor for Carlos Ghosn as there is a probability of Nissan's executive also being involved in the pay scandal. However, the board ended up forming a committee to investigate in-house governance at Nissan which was indicted along with Ghosn by Japanese prosecutors last week.

The Nissan Board has also held a meeting with on Monday to discuss a replacement for Ghosn. The replacement decision of Ghosn at Nissan is being looked after by an advisory committee. The company is also likely to announce new governance measures intended to address criticism that if failed to prevent Ghosn's alleged misconduct.