Vivo India / China Phone Makers ED Probe

The Enforcement Directorate launched a money laundering investigation involving the Chinese smartphone maker Vivo-India and several associated entities. According to investigators, the firm and its linked entities allegedly transferred huge amounts of funds out of the country to China to avoid paying taxes in India. Officials stated that a significant portion of the company's total sale proceeds was remitted abroad, causing wrongful gains that were detrimental to India's economic sovereignty.

As part of the probe, authorities arrested multiple individuals, including the interim CEO of Vivo-India, the chief financial officer, a consultant, and a mobile company managing director, alongside chartered accountants and other individuals. Investigators alleged that certain associated companies were incorporated using forged identification documents and falsified addresses. The federal agency filed an enforcement case information report and subsequently submitted a charge sheet before a special court.

The crackdown follows a broader government effort to tighten scrutiny on Chinese entities operating in the country amid ongoing financial crime investigations. A special judge took cognisance of the charge sheet and summoned the accused individuals, while several of those arrested were placed in judicial custody as legal proceedings continued.

Not yet reported: The articles do not specify the final verdicts or legal outcomes from the court proceedings beyond the initial summons and judicial custody.