Enforcement Directorate Arrests Vivo, Lava Mobile Executives

Three top executives from Vivo Mobile and MD of Lava International, a China-based company, were detained by the Enforcement Directorate (ED) this Tuesday. The arrested group includes a Chinese national.

What Happened: The Enforcement Directorate of India carried out the arrests, as reported by CNBC TV-18 citing sources. The arrests follow a series of raids carried out across India involving 48 locations last year. These raids included searches at the premises of Vivo Mobiles India and 23 associated companies, including Grand Prospect International Communications (GPICPL).

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The ED’s investigation alleges that multiple companies were established in India with the primary objective of illegally transferring funds to China. Moreover, the investigation indicates that Vivo Mobiles India had allegedly transferred a significant portion, approximately half of its sales proceeds amounting to ₹1.25 lakh crore, to China, purportedly as an attempt to evade taxes in India.

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Posted In: GovernmentNewsLegalEnforcement DirectorateLavaVivo