The order on Saturday upheld the stance of the executives that the detention of interim CEO Hong Xuquan, chief financial officer Harinder Dahiya and tax consultant Hemant Munjal was illegal, since they were given the grounds for arrest and presented in court 24 hours after their arrest, violating Section 19 of the Prevention of Money Laundering Act (PMLA).
The federal agency had earlier arrested four people mobile company Lava International s MD Hari Om Rai, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik in the case.
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.
Xiaomi: AIMRA said that providing retailers with higher profit margins on 4G products will encourage them to prioritise selling existing inventory and facilitate a faster turnover.