The Enforcement Directorate (ED) has arrested the MD of Lava Worldwide cell firm, a Chinese language nationwide, a Chartered Accountant, and one other particular person as a part of its ongoing money-laundering probe towards Chinese language smartphone-maker Vivo, quoting some official sources PTI stated on Tuesday. The 4 have been taken into custody beneath the provisions of the Prevention of Cash Laundering Act (PMLA).
In keeping with the report, they’re anticipated to be produced earlier than a courtroom right here the place the ED will search their custody. The company had raided the corporate and its linked individuals in July final yr, claiming to have busted a serious cash laundering racket involving Chinese language nationals and a number of Indian firms.
The ED had then alleged {that a} whopping Rs 62,476 crore was “illegally” transferred by Vivo to China in an effort to keep away from cost of taxes in India.
Vivo Cellular didn’t instantly reply to requests for remark made by e-mail and phone by information company Reuters.
Final yr in July, the legislation enforcement company performed raids at a number of places throughout the nation in motion towards Vivo, and several other companies linked to it.