China Heist: Chinese Biz Major Vivo Under ED Scanner, Multiple Allegations Levelled | Latest News

Описание: In its investigation into Chinese smartphone maker Vivo, the Enforcement Directorate found that Vivo India had released about 50 percent or Rs 62,476-crore of its profits to China to avoid paying taxes in India. The ED also seized funds of Rs 465 crore, Rs 73 lakh in cash and 2 kg of gold under anti-money laundering law. ED conducted searches at 44 locations across the country under VIVO Mobiles India Pvt. Ltd and its 23 affiliated companies, and took a balance of Rs. 465 Crore lying in 119 bank accounts, including 65 Crore FDs in Vivo India, 2kg gold bars, and Rs. 73 Make money. The state agency filed a money laundering case after noticing the latest Delhi police (economic prosecution) FI case against a distributor at a center based in Jammu and Kashmir where there were allegations that few Chinese shareholders in the company had falsified their IDs.

#Vivo #China #MoneyLaundering

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