The Enforcement Directorate (ED) on Thursday revealed that VIVO Mobiles India Pvt Ltd received vast amounts from its 23 associated companies and remitted RS62476 crore, or 50% of its sale proceeds out of India, mainly to China to avoid taxes in India.
The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom left India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant,