Money Laundering Probe: Major stifling Against Chinese big ‘Vivo’ as forty four Places Raided in India

The social control board of directors on weekday conducted searches at forty four places across the country in a very hiding investigation against Chinese smartphone producing company Vivo and connected companies, officers aforesaid. The searches ar being administrated below sections of the hindrance of cash wash Act (PMLA).

The agency is conducting searches at forty four places associated with Vivo and associated firms, they said. Bihar, Jharkhand, Uttar Pradesh, Himachal Pradesh, Madhya Pradesh, {punjab|Punjab|geographical ara|geographic ara|geographical region|geographic region} and Haryana are a number of the states wherever searches are current.

Last month, the mobile manufacturer’s J&K distributor Grand Prospect International Communication came below the scanner of social control agencies once the company affairs ministry found that that a minimum of 2 Chinese shareholders submitted solid documents and bastard Indian addresses.

According to a report in Economic Times, the distributor projected itself as a subsidiary of Vivo China and submitted pretend address details on Chinese shareholders Zhengshen Ou and Zhang Jie in official company records. On inquiry, one in all the addresses was found to be the residence of a former Shillong cabinet minister, whereas the opposite was that of a guard area in Himachal Pradesh.

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