Enforcement Directorate (ED) has officially file first charge sheet in connection with the ongoing money laundering investigation involving Chinese smartphone manufacturer Vivo and many other entities, as per official sources.
The prosecution complaint, lodge in a special court, invokes the criminal sections of the Prevention of Money Laundering Act (PMLA), with Vivo-India identified as an accuse with individuals previously apprehend in connection with the case, as per reports.
Those who arrested by the ED were four individuals, including the Managing Director of Lava International mobile company, Hari Om Rai.
Also detainees include Chinese national Guangwen, also known as Andrew Kuang with Chartered Accountants Nitin Garg and Rajan Malik.
As ED had assert in remand papers present before a local court that the actions of the detain individuals facilitate Vivo-India in securing wrongful gains, adversely affecting the economic sovereignty of India.
ED had conduct raids on Vivo-India and its affiliate individuals in July of the 2022 unveiling what it claim to be a significant money laundering network involving Chinese nationals and various Indian companies.
At that time, the ED allege that an exorbitant Rs. 62,476 crore had “illegally” transfer by Vivo-India to China, ostensibly to evade tax payments in India.
In response to that Vivo-India maintain its commitment to ethical principles and legal compliance.
In a recent court statement, Hari Om Rai, MD of Lava International, assert that his association with Vivo and its representatives cease in 2014, refuting any connection to the alleged proceeds of crime.
ED initiate an enforcement case information report (ECIR) on 3rd February 2023, akin to a police FIR, following an examination of a Delhi Police FIR from December of the previous year against Grand Prospect International Communication Pvt Ltd (GPICPL), an associate company of Vivo, its directors, shareholders, and other professionals.
The Corporate Affairs Ministry had file the police complaint, alleging the use of “forged” identification documents and “falsified” addresses by GPICPL and its shareholders during the company’s incorporation in December 2014.
