ED blocks 119 accounts linked to Vivo, seizes gold bars after raids: Report
2 years, 5 months ago

ED blocks 119 accounts linked to Vivo, seizes gold bars after raids: Report

Hindustan Times  

The Enforcement Directorate, as part of an investigation into alleged money laundering by the Chinese smartphone maker, reported news agency Reuters. The ED said it raided 48 locations of Vivo and its 23 related entities this week, alleging that sale proceeds of Vivo India were transferred out of India to show losses and avoid paying taxes. The ED on Thursday said the Indian arm of Vivo "remitted" almost 50 per cent of its turnover, which is ₹62,476 crore, mainly to China in order to avoid paying taxes here, PTI reported. The probe agency also said it has seized 73 lakh cash and 2 kg gold bars after its pan-India raids that were launched early this week on July 5 against Vivo Mobile India Pvt. It alleged that "employees of Vivo India, including some Chinese nationals, did not cooperate with the search proceedings and tried to abscond, remove and hide digital devices which were retrieved by the search teams."

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History of this topic

ED seizes 19.50 kg gold linked to ₹4,978-crore cyber fraud case
7 months, 2 weeks ago

ED seizes 19.50 kg gold linked to ₹4,978-crore cyber fraud case

The Hindu  

The Enforcement Directorate has seized 19.50 kg of gold worth over ₹14 crore from a bank locker linked to an alleged cybercriminal who is one of the masterminds of a syndicate that transferred abroad about ₹4,978 crore raised through various cybercrimes and online gaming platforms during 2020-24. In February-March, while probing the online gaming companies/websites incorporated in small island nations …

HC extends custody remand of Vivo India executives in money laundering case
11 months, 4 weeks ago

HC extends custody remand of Vivo India executives in money laundering case

Firstpost  

The accused, who were taken into custody by the Enforcement Directorate on December 22, 2023, were Hemant Munjal, a consultant for VIVO, Hong Xuquan, the interim CEO of VIVO India, and Harinder Dahiya, the company’s chief financial officer Three Vivo-India executives were sent in two more days of custody of the Enforcement Directorate on Tuesday, according to a Patiala House …

ED gets 3-day custody of top Vivo India execs
11 months, 4 weeks ago

ED gets 3-day custody of top Vivo India execs

Live Mint  

Vivo India’s interim chief executive officer Hong Xuquan, chief financial officer Harinder Dahiya and consultant Hemant Munjal were arrested by Enforcement Directorate on charges of money laundering and remanded to custody by a sessions judge in Patiala House Court for three days. The high-profile arrests follow the arrests of four industry executives in October, including Lava International managing director Hari …

ED files first charge sheet against Chinese smartphone maker vivo-India, among others
1 year ago

ED files first charge sheet against Chinese smartphone maker vivo-India, among others

The Hindu  

The prosecution complaint has been filed before a special court in New Delhi on December 6 under the criminal sections of the Prevention of Money Laundering Act and vivo-India has been named an accused apart from those arrested in this case, the sources told PTI. It had raided vivo-India and its linked persons in July last year, claiming to have …

ED arrests Lava MD, three others in Vivo case
1 year, 2 months ago

ED arrests Lava MD, three others in Vivo case

Hindustan Times  

The Enforcement Directorate has arrested four persons, including the chairman and managing director of Lava International, a Chinese national and a chartered accountant, in connection with its money laundering probe against Chinese phone maker Vivo, agency officials said on Tuesday. “In order to avoid taking government approval, Vivo, China, devised a plan whereby they entered India under the garb of …

Vivo PMLA case: ED arrests four persons in money laundering probe
1 year, 2 months ago

Vivo PMLA case: ED arrests four persons in money laundering probe

Hindustan Times  

The Enforcement Directorate has arrested four persons, including a Chinese citizen, a managing director and two others in connection with its money laundering probe against Chinese mobile maker Vivo, agency officials said on Tuesday. Those arrested include - Guangwen Kyang alias Andrew Kuang, Hari Om Rai, a chartered accountant Nitin Garg and another private person Rajan Malik. At that time, …

Vivo gets notice in ₹2,217 cr customs duty evasion case
2 years, 4 months ago

Vivo gets notice in ₹2,217 cr customs duty evasion case

Live Mint  

The Directorate of Revenue Intelligence has issued a show cause notice to mobile phone maker Vivo Mobile India Pvt Ltd over customs duty evasion of ₹2,217 crore. In a statement on Wednesday, the finance ministry said that during an investigation DRI detected the customs duty evasion by mobile phone maker. “During the course of investigation, searches were conducted by DRI …

Explained | Why is the ED looking into the operations of Chinese smartphone maker Vivo?
2 years, 5 months ago

Explained | Why is the ED looking into the operations of Chinese smartphone maker Vivo?

The Hindu  

The story so far: China on Wednesday, July 6 issued a strong statement against the Enforcement Directorate’s ongoing investigation into Chinese mobile company Vivo in India. The ED, after raiding 48 places across the country in a money-laundering investigation against Vivo and related firms this week, said on July 7 that the company remitted 50 per cent of its turnover …

Delhi High Court asks Enforcement Directorate to respond to Vivo's plea against freezing bank accounts
2 years, 5 months ago

Delhi High Court asks Enforcement Directorate to respond to Vivo's plea against freezing bank accounts

Firstpost  

The high court also allowed Vivo to operate its various bank accounts on furnishing of a bank guarantee of Rs 950 crore with the ED, which contended that presently the proceeds of crime has been quantified to Rs 1200 crore, within a week New Delhi: The Delhi High Court on Wednesday sought response of the Enforcement Directorate on a plea …

Delhi High Court asks Enforcement Directorate to respond to Vivo’s plea against freezing bank accounts
2 years, 5 months ago

Delhi High Court asks Enforcement Directorate to respond to Vivo’s plea against freezing bank accounts

India TV News  

Highlights Delhi HC sought response of ED on a plea by Chinese smartphone maker Vivo It seeks quashing of an order freezing its various bank accounts in connection with money laundering HC allowed Vivo to operate its various bank accounts on furnishing of a bank guarantee of Rs 950 cr The Delhi High Court on Wednesday sought response of the …

Explained: Why has the ED raided Vivo, what was revealed?
2 years, 5 months ago

Explained: Why has the ED raided Vivo, what was revealed?

Firstpost  

The Enforcement Directorate has raided more than 40 places in a money-laundering case against Chinese smartphone company Vivo. It found that company ‘remitted’ almost 50 per cent of its turnover, which is Rs 62,476 crore, mainly to China in order to avoid paying taxes here The Enforcement Directorate raided more than 40 places across India on Tuesday and Wednesday in …

Delhi HC allows urgent listing of Vivo's plea challenging freezing of bank accounts by ED
2 years, 5 months ago

Delhi HC allows urgent listing of Vivo's plea challenging freezing of bank accounts by ED

The Hindu  

The plea was mentioned before a bench of Delhi High Court Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad which agreed to list it for Friday. The federal probe agency, on July 5, raided several places across the country in the money laundering investigation against Vivo and related firms. "Due to the amounts in the bank accounts being unavailable …

50% Vivo India transferred out of nation, says ED
2 years, 5 months ago

50% Vivo India transferred out of nation, says ED

Hindustan Times  

The Enforcement Directorate said on Thursday that the India branch of top Chinese mobile handset manufacturer Vivo transferred almost 50% of its total turnover out of India. The investigating body carried out raids at 48 locations across India in connection with “forged identification documents and falsified addresses” by several firms linked with Vivo India. The investigation is being carried out …

Vivo illegally transferred Rs 62476 crores to China to avoid taxes, says ED
2 years, 5 months ago

Vivo illegally transferred Rs 62476 crores to China to avoid taxes, says ED

Op India  

On Thursday, 7th July 2022, the Enforcement Directorate said that smartphone maker Vivo “illegally” sent Rs 62,476 crore to China in order to avoid paying taxes on that money in India. Rs 62,476 crore has been “illegally” transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said #Vivo #EnforcementDirectorate https://t.co/bBiqWicOEc …

Almost 50% of Vivo India’s turnover transferred out of India, reveals ED
2 years, 5 months ago

Almost 50% of Vivo India’s turnover transferred out of India, reveals ED

Hindustan Times  

The Enforcement Directorate on Thursday revealed the India branch of top Chinese mobile manufacturer Vivo, had transferred almost 50% of its total turnover out of India. “Out of the total sale proceeds of ₹1,25,185 crore, Vivo India remitted ₹62,476 crore i.e., almost 50% of the turnover out of India, mainly to China. The investigating body carried out raids at 48 …

Vivo remitted almost 50% of turnover to China to avoid getting taxed in India, says ED
2 years, 5 months ago

Vivo remitted almost 50% of turnover to China to avoid getting taxed in India, says ED

The Hindu  

The Enforcement Directorate on Thursday alleged thatVivo India remitted almost 50% of the sale proceeds overseas, mainly to China, to disclose huge losses in several domestically incorporated companies to avoid payment of taxes in India. The ED statement came two days after it conducted searches at 48 locations across the country, including the premises linked to Vivo India and its …

ED Raids Vivo: China Calls for a ‘Truly Fair’ Probe in Money Laundering Case
2 years, 5 months ago

ED Raids Vivo: China Calls for a ‘Truly Fair’ Probe in Money Laundering Case

The Quint  

The Enforcement Directorate raided at least 44 places across India on Tuesday in a money-laundering investigation against Chinese smartphone manufacturer Vivo and related firms. The searches were carried out under sections of the Prevention of Money Laundering Act at locations in several states including Delhi, Uttar Pradesh, Meghalaya and Maharashtra. The action is being seen as part of the Union …

Raids on Vivo | China hopes for a 'truly fair' probe in accordance with law
2 years, 5 months ago

Raids on Vivo | China hopes for a 'truly fair' probe in accordance with law

The Hindu  

China on Wednesday expressed hope that India will conduct the ongoing investigations into the Chinese mobile manufacturer firm Vivo in accordance with the law and regulations and provide a " truly fair" and "non-discriminatory" business environment to China's firms. "As I have stressed many times, the Chinese government has always asked Chinese companies to abide by laws and regulations when …

ED Raids On Vivo: China Hopes For a 'Truly Fair' Probe In Accordance With Law
2 years, 5 months ago

ED Raids On Vivo: China Hopes For a 'Truly Fair' Probe In Accordance With Law

News 18  

China on Wednesday expressed hope that India will conduct the ongoing investigations into the Chinese mobile manufacturer firm Vivo in accordance with the law and regulations and provide a " truly fair" and "non-discriminatory" business environment to China's firms. "As I have stressed many times, the Chinese government has always asked Chinese companies to abide by laws and regulations when …

Vivo sent Rs 62,476-cr worth turnover to China to avoid getting taxed in India: ED
2 years, 5 months ago

Vivo sent Rs 62,476-cr worth turnover to China to avoid getting taxed in India: ED

India TV News  

Highlights Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China This money is almost half of Vivo's turnover of Rs 1,25,185 crore The crackdown came after ED found three Chinese nationals who were part of company "left" India ED raids Vivo: A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China …

India should probe Vivo according to law, not discriminate: China
2 years, 5 months ago

India should probe Vivo according to law, not discriminate: China

Hindustan Times  

China on Wednesday said it hopes India would conduct investigations into the Chinese smartphone company Vivo according to law and provide a “fair” and “non-discriminatory” business environment for Chinese firms. China is closely following developments related to the raids on the offices of Vivo in India, Chinese foreign ministry spokesperson, Zhao Lijian, said on Wednesday when asked about the case. …

Indian financial crime agency raids Chinese-owned Vivo
2 years, 5 months ago

Indian financial crime agency raids Chinese-owned Vivo

The Hindu  

India's financial crime-fighting agency on Tuesday raided the offices of smartphone maker Vivo, owned by China's BBK Electronics, and its related entities, a senior government official and an industry executive told Reuters. The raids at Vivo come months after the Enforcement Directorate launched an investigation into Xiaomi Corp, one of India's leading smartphone sellers, for alleged illegal remittances abroad "in …

ED conducts raids against Chinese mobile company Vivo
2 years, 5 months ago

ED conducts raids against Chinese mobile company Vivo

Op India  

On Tuesday, July 5, The Enforcement Directorate conducted raids at as many as 44 locations across the country linked to the Chinese mobile company Vivo. ED conducts raids at 44 places in money laundering probe against Chinese mobile manufacturing company Vivo & related firms:Officials — Press Trust of India July 5, 2022 Among the states where searches are in progress …

Money laundering probe: ED conducts raids against Chinese smartphone giant Vivo, searches at 44 locations
2 years, 5 months ago

Money laundering probe: ED conducts raids against Chinese smartphone giant Vivo, searches at 44 locations

Firstpost  

Last month, the Chinese firm’s Jammu & Kashmir distributor Grand Prospect International Communication came under the scanner of enforcement agencies over forgery concerns New Delhi: The Enforcement Directorate conducted raids at 44 places in a money laundering investigation against Chinese mobile manufacturing company Vivo and related firms. In June, the Chinese firm’s Jammu & Kashmir distributor Grand Prospect International Communication …

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