New Delhi. China’s smartphone maker Vivo VIVO has been accused of a big deal. The Hindi newspaper ‘Dainik Jagran’, quoting the sources of Enforcement Directorate ED, has told that Vivo has created many shell companies on fake names. Through these shell companies, he sent Rs 47000 crore to China in violation of the rules. The ED had raided 44 locations of Vivo across the country yesterday. ED is investigating money laundering against Vivo and another Chinese phone maker Xiaomi. Xiaomi has been raided before. However, the company had claimed at that time that it did not find any wrongdoing in the raid.
Let us tell you that the CBI investigation is already going on against Vivo. In December last year, the Income Tax Department had raided the premises of Vivo and other mobile phone makers in China. Income Tax had at that time alleged that companies had wrongly declared income of more than Rs 500 crore. It was also alleged that companies are misappropriating their income in the name of royalty and evading tax.
Earlier, the ED had questioned Manu Jain, the former Indian head of Chinese mobile maker Xiaomi XIAOMI under the Foreign Exchange Regulation Act (FEMA). Apart from this, the ED had also seized Rs 5000 crore in the bank accounts of Xiaomi. Later, the Karnataka High Court had stayed this seizure action of the ED. Xiaomi had alleged that the ED forced its top officials. Whereas, the investigating agency had denied these allegations. Now, from what Dainik Jagran has claimed about Vivo, quoting sources, it seems that in the coming time, more big action can be taken on the company.