The Tokyo District Court rejected on Monday a request by former Nissan Motor Co. Chairman Carlos Ghosn, facing financial misconduct charges and released on bail last week, to attend the automaker's board meeting Tuesday.
Ghosn subsequently appealed the court decision, his lawyers said, but the court later rejected the appeal.
The Japanese automaker removed Ghosn from his post following his arrest in November, but he remains a director at the company. Nissan plans to propose dismissing him as a director at an extraordinary shareholders' meeting on April 8.
Attending a board meeting requires court approval as the bail conditions include banning him from contacting Nissan executives and other people potentially linked to the allegations.
Ghosn, who denies the allegations against him, believes he has a responsibility to attend the board meeting as a director, according to the lawyers.
Ghosn was released on bail last Wednesday at the third time of asking, more than three months after he was arrested. His release is conditional on restrictions that address apparent concerns that he could tamper with evidence.
Ghosn is accused of underreporting his remuneration in Nissan's securities reports by around 9 billion yen ($80 billion) over eight years. He is also charged with aggravated breach of trust for having transferred personal losses of 1.85 billion yen from derivatives contracts to Nissan, and having the automaker pay $14.7 million to a Saudi businessman who extended credit to him.
Nissan's own probe has found at least 50 cases of financial misconduct such as misappropriation of company funds for personal purposes, sources familiar with the matter said.
Greg Kelly, a close aide of Ghosn who was also arrested and indicted for conspiring to understate Ghosn's remuneration for years in securities reports, does not intend to attend the board meeting, according to sources close to the matter.
Kelly, released on bail in late December, was dismissed from the post of representative director after his arrest but also remains a Nissan director. He denies the allegations against him.