Enforcement Directorate (ED) has taken into custody several top-ranking officials from Vivo, a leading Chinese smartphone manufacturer. This action is part of an ongoing probe into allegations of money laundering.
The ED’s investigation is focused on Zhengshen Ou and Zhang Jie, directors of GPICPL, a firm associated with Vivo. Reports suggest that these individuals left India last year. The ED has clarified that these individuals were not directors of Vivo.
The ED has carried out search operations at over 40 locations across Uttar Pradesh, Madhya Pradesh, and several southern states. These searches are linked to Vivo Mobile Communications and other Chinese firms. The Central Bureau of Investigation (CBI) is also investigating the case. The IT department and the Ministry of Corporate Affairs are closely monitoring the situation.
The ED’s actions are in response to potential violations of the Prevention of Money Laundering Act (PMLA). Vivo Mobile Communications’ local units are under scrutiny for alleged financial irregularities.
In response to these actions, Vivo India has approached the Delhi High Court. The company is challenging the ED’s decision to freeze its accounts. The Delhi High Court has agreed to an urgent hearing of Vivo’s plea.
