The Enforcement Directorate (ED) has filed a charge sheet against Chinese smartphone company Vivo-India and others. This charge sheet has been filed against these companies after investigating the money laundering case.
According to PTI sources, this complaint has been filed in the Special Court of New Delhi on Wednesday under the Prevention of Money Laundering Act, in which Vivo-India and others have been named.
The investigating agency has arrested 4 people in this case, which includes Hari Om Rai, Managing Director of Lava International Mobile Company. Others who have been arrested include Chinese national Guangwen alias Andrew Kuang, chartered accountants Nitin Garg and Rajan Malik.
ED had filed remand papers in the local court, in which all four were accused of allegedly giving unfair benefits to Vivo India, which is harmful to the economic sovereignty of India.
The raid was conducted in July 2022
In the month of July last year, a raid was conducted on Vivo India, in which many Indian companies and Chinese citizens were found involved in big money laundering.
ED accused Vivo India of transferring Rs 62,476 crore to China to avoid tax. In response, the company has said that it performs its ethical duties with full responsibility and is fully committed to complying with the laws.
Lava International Mobile MD Hari Om Rai admitted in the court that his company and Vivo-India were in talks to launch a joint venture (JV) together about a decade ago, but they had no contact with any Chinese firm or its representatives since 2014.
Rai’s lawyer told the court, ‘Leave alone any alleged benefit, neither has he entered into any transaction with Vivo-India or any other entity associated with Vivo nor has he made any financial gain from it. Is.’
After studying the FIR filed by Delhi Police in December, the agency on February 3 filed an Enforcement Case Information Report against Vivo-India’s associated company Grand Prospect International Communication Private Limited in this matter. This Enforcement Case Information Report is as valid as the FIR filed by the police.
This police complaint has been filed by the Ministry of Corporate Affairs, in which GPICPL and its shareholders have been accused of allegedly using fake identity cards and wrong address at the time of formation of the company in December 2014.
