Vivo PMLA Case: Delhi Court Takes Cognisance Of Chargesheet
The chargesheet was filed earlier this month under criminal sections of the Prevention of Money Laundering Act.
A Delhi court on Wednesday took cognisance of the charge sheet filed by the Enforcement Directorate against Chinese smartphone maker Vivo-India and others in a money laundering case.
Four individuals -- the MD of Lava International mobile company, Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik –- have been named as accused in the prosecution complaint (ED's equivalent of a chargesheet).
Special Judge Kiran Gupta summoned the accused, who are in judicial custody, on Feb 19,2023.
The chargesheet was filed earlier this month under criminal sections of the Prevention of Money Laundering Act.
The ED claimed the alleged activities of the four 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 last year 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.'
