The court dismissed the bail application of Hari Om Rai, the managing director of Lava International Company, in a money laundering case against Vivo. The judge stated that Rai s medical reports did not indicate any urgent medical attention or risk to his life. Rai has received treatment for all his ailments while in judicial custody, including his heart ailment. Rai s counsel clarified that he had no involvement with Vivo since 2014. Rai and others were arrested under the Prevention of Money Laundering Act for alleged illegal transfer of funds to China to evade taxes in India.
India Business News: A Delhi court has denied bail to Hariom Rai, the MD of mobile firm Lava International, in a case related to alleged money laundering and tax dodging by Chinese phone major Vivo and its associates. Read the latest news on this development.