The Enforcement Directorate (ED) of India accused Vivo of illicitly transferring an enormous sum of ₹ 62,476 crore to China, ostensibly to evade Indian tax obligations.
The Delhi High Court has refused to interfere with a trial court order sending Chinese national Guangwen alias Andrew Kuang to three-day Enforcement Directorate custody in a money laundering case against Chinese smartphone maker Vivo.
"Vivo firmly adheres to its ethical principles and remains dedicated to legal compliance. The recent arrest deeply concerns us. We will exercise all available legal options," a company spokesperson said in a statement.
New Delhi: The ED Tuesday arrested four persons including the managing director of Lava International mobile company and a Chinese national in connection with a money-laundering probe against.