The Thai Central Criminal Court for Corruption and Misconduct stated on Monday that King Power would go on trial in Bankok starting on February 12 over its failure to pay some £322m in taxes.
However, Aiywatt, son of Leicester owner Vichaj Srivaddhanaprabha and King Power CEO has refuted such claims.
"The allegations in question have yet to be accepted by the court and are categorically denied," he said in a statement.
"King Power has always followed and been absolutely committed to the highest standards in proper and ethical business practice.
"We are proud of our company's good name and honest reputation and will fight rigorously any attempts to discredit them."
According to 'Sky Sports', the accusations stem from King Power's monopoly over duty free shops at Thai airports, which was given the them in 2006.