Breaking News: Vivo sent billions of rupees to China
Latest Updated 08/12/2023: The ED filed its first charge sheet in connection with its money laundering probe against Chinese smartphone maker Vivo and some others.
- The next hearing of the case will be on 13 December
The prosecution filed a complaint in Patiala House Court on Thursday under criminal sections of the Prevention of Money Laundering Act and made five people including Vivo company accused in this case. ED alleged that Vivo transferred an amount of Rs 62 thousand 476 crore to China between 2014 and 2021 to avoid paying taxes in India.
The ED claimed that between 2014 and 2018, the company sent an amount of Rs 1 lakh crore to 19 hired shell companies so that the news of Vivo's control over Indian companies could not reach the Indian authorities. Charge sheet filed in the court of Special Judge Kiran Gupta.
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