Vivo India accused of tax evasion to the tune of Rs 2,217 crore by the Directorate of Revenue Intelligence
2 years, 4 months ago

Vivo India accused of tax evasion to the tune of Rs 2,217 crore by the Directorate of Revenue Intelligence

Firstpost  

The Enforcement Directorate and the Directorate of Revenue Intelligence has found in its investigations that Vivo India evaded custom duty to the tune of Rs 2,217 crore. The Directorate of Revenue Intelligence has detected customs duty evasion of around Rs 2,217 crore by Chinese firm Vivo Mobile, according to an official statement they released on Wednesday. This improper declaration resulted in wrongful availing of ineligible duty exemption benefits by Vivo India, amounting to Rs 2,217 crore, the ministry said. A Show Cause Notice has been issued to Vivo India demanding Customs duty amounting to Rs 2,217 crore, under the provisions of the Customs Act, 1962, after the investigation was concluded, the issued statement added.

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History of this topic

Vivo plans to double production, increase exports with a larger manufacturing facility
4 months, 3 weeks ago

Vivo plans to double production, increase exports with a larger manufacturing facility

The Hindu  

Vivo India has manufactured over 150 million smartphones at its Greater Noida based facility in the last ten years. Since 2022, Vivo exported smartphones worth ₹400 crore from its manufacturing unit in India. Vivo also plans to double the production and increase exports as it plans to move to a larger manufacturing facility by the end of this year. In …

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
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 …

Vivo siphoned $13 bn abroad, ED tells court
1 year, 2 months ago

Vivo siphoned $13 bn abroad, ED tells court

Live Mint  

Many employees of Chinese smartphone maker Vivo and its Indian affiliates concealed their employment when seeking visas, and some breached rules by visiting the “sensitive" Himalayan region of Jammu and Kashmir, India’s financial crime agency has said. {{^adFree}} {{/adFree}} At least 30 Chinese individuals entered India on business visas and worked as Vivo employees, but their application forms “never disclosed" …

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, …

Chinese smartphone players in trouble again: Cannot sell these smartphones in India
2 years, 4 months ago

Chinese smartphone players in trouble again: Cannot sell these smartphones in India

India TV News  

Chinese smartphone players are again going to face a tough time in the country as the Indian government is reportedly planning to put curbs on China-based smartphone players from selling low-end smartphones to give a much-needed boost to homegrown brands like Micromax, Lava, Karbonn and others. According to a Bloomberg report citing sources that came out on Monday, the country …

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 …

DRI detected customs evasion worth over ₹2.21 crore by Vivo India: Govt
2 years, 4 months ago

DRI detected customs evasion worth over ₹2.21 crore by Vivo India: Govt

Hindustan Times  

The Directorate of Revenue Intelligence has detected a customs duty evasion of around ₹2,217 crore from Vivo Mobile India Pvt. After the DRI's investigation was completed, a show cause notice was issued to Vivo India under provisions of the Customs Act, 1962. According to a statement by the Union finance ministry on Wednesday, “During the course of investigation, searches were …

Show-cause notices served to Oppo, Vivo, Xiaomi for tax evasion
2 years, 4 months ago

Show-cause notices served to Oppo, Vivo, Xiaomi for tax evasion

The Hindu  

Finance Minister Nirmala Sitharaman on Tuesday informed Rajya Sabha that three mobile phone companies — Oppo India, Xiaomi Technology India Pvt. She added that the “government is consciously taking action against Indian citizens who have helped in having these companies established and other shell companies through which they are operating.” Responding to a question from member Sushil Modi, about Chinese …

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 …

DRI detects Customs duty ‘evasion’ of ₹4,389 crore by Oppo India
2 years, 5 months ago

DRI detects Customs duty ‘evasion’ of ₹4,389 crore by Oppo India

The Hindu  

The Directorate of Revenue Intelligence has served a showcause notice on Oppo India demanding Customs duty amounting to ₹4,389 crore, the agency said on Wednesday. The DRI had earlier conducted searches on the office premises of Oppo India and residences of its key management employees, which led to the seizure of “incriminating” evidence indicating alleged wilful mis-declaration in the description …

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 …

Oppo India in Trouble: DRI Unearthes Rs 4,389-Crore Customs Duty Evasion; Details Here
2 years, 5 months ago

Oppo India in Trouble: DRI Unearthes Rs 4,389-Crore Customs Duty Evasion; Details Here

News 18  

The Directorate of Revenue Intelligence has conducted searches at the premises of mobile company Oppo India and unearthed a customs duty evasion of Rs 4,389 crore by the company, according to an official statement on Wednesday. “During an investigation pertaining to M/s Oppo Mobiles India Private Limited, a subsidiary company of Guangdong Oppo Mobile Telecommunications Corporation Ltd, China, the Directorate …

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 …

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 …

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 …

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