Delhi High Court Seeks ED's Response To Lava MD's Bail Plea In Money Laundering Case
Rai was arrested by the ED in October last year on money laundering charges in the case against Vivo-India.
Source: Lava website
The Delhi High Court on Thursday sought the stand of the Enforcement Directorate on a bail plea by Hari Om Rai, MD of Lava International mobile company, in a money laundering case involving Chinese smartphone maker Vivo. Justice Manoj Kumar Ohri also asked the agency to respond to Rai's petition challenging his arrest, as it issued notice on both the pleas.
Rai was arrested by the ED in October last year on money laundering charges in the case against Vivo-India.
ED has earlier filed a charge sheet against Vivo-India and others under criminal sections of the Prevention of Money Laundering Act.
Last month, a trial court had refused to grant bail to Rai, saying no grounds for relief were made out.
The ED has claimed the alleged activities of the accused enabled Vivo-India to make wrongful gains that were detrimental to the economic sovereignty of the country.
The anti-money laundering agency had raided Vivo-India and persons linked to it in July 2022 and claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies.
The ED had then alleged that a whopping Rs 62,476 crore was 'illegally' transferred by Vivo-India to China to avoid payment of taxes in India.
The company had rejected the allegations, saying it "firmly adheres to its ethical principles and remains dedicated to legal compliance".
