ED arrests 4 persons in PMLA case against Chinese smartphone company Vivo | Latest News India - Hindustan Times
close_game
close_game

ED arrests 4 persons in PMLA case against Chinese smartphone company Vivo

Oct 10, 2023 03:24 PM IST

Enforcement Directorate arrests 4 persons in PMLA case against Chinese phone-maker Vivo

The Enforcement Directorate (ED) has on Tuesday taken into custody four individuals as part of its investigation into a Prevention of Money Laundering Act (PMLA) case into the Chinese mobile company Vivo.

Vivo
Vivo

Those arrested in connection with the case are: Guangwen Kyang, also known as Andrew Kuang, a Chinese national, Hari Om Rai, the Managing Director of Lava International, Rajan Malik and Nitin Garg, a Chartered Accountant (CA). More than 10 lakh cash was also seized.

Unlock exclusive access to the latest news on India's general elections, only on the HT App. Download Now! Download Now!

In July of the previous year, the agency conducted raids on the company and its associates, asserting that they had uncovered a “significant money laundering operation” involving Chinese nationals and several Indian firms.

During their investigation, the ED alleged that Vivo had transferred a substantial sum of 62,476 crore to China through illicit means, purportedly as a means to evade tax payments in India, PTI reported.

READ HERE: Multiple ED raids against Chinese mobile company Vivo, linked firms

The scrutiny against Chinese firms tightened after tensions at the border between the two countries in 2020, leading to multiple rounds of talks. More than 200 mobile apps, including TikTok, have been banned since then.

(Inputs from Neeraj Chauhan)

Tell us what your First Vote will stand for in a short video & get a chance to be featured on HT’s social media handles. Click here to know more!

Get Current Updates on India News, Elections Result, Lok Sabha Election 2024 Live, Lok Sabha Elections Results 2024, Weather Today along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
  • ABOUT THE AUTHOR
    author-default-90x90

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, May 30, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On