Two high executives of Chinese language handset maker Vivo have fled India amid intensifying inquiry right into a cash laundering case by the Enforcement Directorate (ED). The 2 Vivo India administrators who’ve fled the nation are Zhengshen Ou and Zhang Jie. This improvement comes a day after the ED carried out searches at 40 areas of Vivo and related corporations in reference to the case, reported information company ANI.
The IT division together with the Ministry of Company Affairs is holding an in depth eye on Chinese language manufacturing firms. The ED carried out searches with respect to violations of the Prevention of Cash Laundering Act (PMLA).
ABP Stay has approached Vivo India for a remark. This report will probably be up to date if a response is obtained.
Earlier on Tuesday,q the ED carried out searches at 44 areas throughout the nation in a money-laundering investigation towards Vivo and associated firms, citing officers, the PTI had reported. In keeping with sources, components from Vivo, and the premises of some different Chinese language firms had been being raided by the ED officers.
The Central Bureau of Investigation (CBI) has additionally been probing the case and have lodged a separate FIR. Â Â
In one other case, on April 30 ED had seized Rs 5,551.27 crore from Xiaomi India in reference to unlawful outward remittances made by the corporate. The seizure was constructed from the corporate’s financial institution accounts beneath provisions of the International Trade Administration Act.
In February this yr, Chinese language telecom main Huawei has been accused of tax evasion by the earnings tax (I-T) division by manipulating its account books in India.
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