Lava International MD arrested in connection with Money Laundering Case

ED had claimed that an enormous sum of ₹62,476 crore was “unlawfully” transferred by Vivo to China to evade tax payments in India.

In a surprising turn of events, the top executive of Lava International, Hari Om Rai, has found himself in the midst of a legal storm. His arrest is linked to an ongoing probe into a case of alleged money laundering involving Vivo, a Chinese smartphone manufacturer.

The Enforcement Directorate (ED) has been meticulously investigating Vivo Mobiles India Pvt Ltd, an offshoot of Multi Accord Ltd, a company based in Hong Kong. The ED’s allegations revolve around Vivo’s purported illegal transfer of a whopping ₹ 62,476 crore to China, thereby evading tax payments in India.

Hari Om Rai is not the only one facing detention. Alongside him, three other individuals have also been apprehended. These include a Chinese official named Guangwen Kyang aka Andrew Kuang, CA Nitin Garg, and Rajan Malik. These detentions are part of the ED’s ongoing probe against Vivo under the Prevention of Money Laundering Act (PMLA).

The arrested individuals are likely to be produced before a court where the Enforcement Directorate will seek their custody. This case underscores the intricate and potentially unlawful aspects involved in international business transactions. As the probe progresses, more information about the alleged money laundering operation is anticipated to surface.