Freezing of bank accounts | Delhi High Court asks Vivo to approach PMLA appellate tribunal
1 year, 8 months ago

Freezing of bank accounts | Delhi High Court asks Vivo to approach PMLA appellate tribunal

The Hindu  

The Delhi High Court has asked Chinese smartphone maker Vivo to approach the Prevention of Money Laundering Act appellate tribunal in relation to the freezing of its bank accounts by the Enforcement Directorate in connection with a money laundering probe. It further clarified that until a decision, interim or final, is taken by the tribunal, the High Court’s earlier orders asking the company to furnish bank guarantee of ₹950 crore and to maintain the credit balance of over ₹251 crore to be able to use the bank accounts shall continue. shall continue till the time the appellate tribunal decides the interim applications or till the final decision in the appeals, in terms of the orders that may be passed by the tribunal,” the High Court said in its March 28 order. Vivo had approached the High Court last year challenging the freezing of its bank accounts by the ED.

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History of this topic

ED's money laundering probe leads to raids across Maharashtra and Gujarat
1 month, 1 week ago

ED's money laundering probe leads to raids across Maharashtra and Gujarat

Hindustan Times  

Mumbai: The Enforcement Directorate conducted searches at more than 16 locations across Maharashtra and Gujarat on Thursday, investigating suspicious banking transactions worth ₹80-90 crore allegedly conducted by a Malegaon-based trader through misappropriated bank accounts. During the raids, which extended into Thursday night, the agency froze approximately ₹ 1.8 crore held in two scrutinised bank accounts. During the raids, which extended …

Delhi court pulls up ED over ‘shoddy probe’ in PNB case
8 months, 3 weeks ago

Delhi court pulls up ED over ‘shoddy probe’ in PNB case

Hindustan Times  

A Delhi court has pulled up the Enforcement Directorate for shoddy investigation and lapses by its investigative officer in a money-laundering case of where Punjab National Bank was defrauded of ₹1,46,71,000. The court noted three lapses committed by the federal probe agency — first, despite there being evidence available, ED failed to name two persons as accused in the case. …

ED freezes ₹123-crore in illegal online loans, gambling, and betting apps case
9 months, 3 weeks ago

ED freezes ₹123-crore in illegal online loans, gambling, and betting apps case

The Hindu  

The Enforcement Directorate has frozen about ₹123 crore, kept in the bank accounts of NIUM India Private Limited allegedly on behalf of Singapore-based shell entities, in connection with a case involving illegal online loans, gambling, and betting apps. The premises of NIUM India Private Limited and its Mumbai-based directors; Xoduz Solution Private Limited, Vikrah Trading Enterprises, Tyrannus Technology, Future Vision …

Delhi court releases Vivo employees accused of money laundering, dubs their arrest 'illegal and void'
11 months, 3 weeks ago

Delhi court releases Vivo employees accused of money laundering, dubs their arrest 'illegal and void'

Op India  

On Saturday, a Delhi court ordered the release of 3 employees of Chinese smartphone manufacturer Vivo, who were arrested by the Enforcement Directorate in connection to a money laundering case. As per reports, the three arrested individuals include Vivo India’s Chief Executive Officer Hong Xuquan, Chief Financial Officer Harinder Dahiya and consultant Hemant Munjal. #WATCH | Vivo money laundering case …

ED gets 3-day custody of top Vivo India execs
1 year 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 …

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, …

ED freezes ₹42.21 crore in e-nuggets gaming app case
1 year, 11 months ago

ED freezes ₹42.21 crore in e-nuggets gaming app case

The Hindu  

The Enforcement Directorate has frozen funds worth ₹42.21 crore lying in the 1,548 bank accounts in connection with the money laundering investigation related to mobile gaming application, e-nuggets, said a statement on Friday. The investigation is based on the First Information Report registered by the Kolkata Police against accused Aamir Khan and others, based on a complaint lodged by the …

ED raids Chinese loan app firms and payment gateway firms in Bengaluru, freezes accounts worth ₹17 crore
2 years, 3 months ago

ED raids Chinese loan app firms and payment gateway firms in Bengaluru, freezes accounts worth ₹17 crore

The Hindu  

The Directorate of Enforcement conducted raids on six loan app firms owned by Chinese nationals across the city and freezed accounts with ₹17 crores. The premises of Razorpay Pvt Ltd, Cashfree Payments, Paytm Payment Services Ltd and entities controlled and operated by Chinese persons were covered in the search operation. During the search operation, it was noticed that the entities …

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 …

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 …

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 …

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 …

ByteDance says India's freeze on bank accounts is harassment
3 years, 8 months ago

ByteDance says India's freeze on bank accounts is harassment

The Hindu  

China's ByteDance has told an Indian court that a government freeze on its bank accounts in a probe of possible tax evasion amounts to harassment and was done illegally, according to a filing seen by Reuters. An Indian tax intelligence unit in mid-March ordered HSBC and Citibank in Mumbai to freeze bank accounts of ByteDance India as it probed some …

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