New Delhi: The Enforcement Directorate today conducted searches at 44 sites in India and raided Chinese mobile phone maker Vivo and other businesses connected to it on suspicion of money laundering.
There was no quick response from the business.
The offices of Vivo and other similar Chinese companies, including as Oppo, Xiaomi, and OnePlus, were searched at over 20 locations in December by the Income Tax Department as well.
According to reports, the search was based on intelligence inputs of tax fraud in the hundreds of crores by displaying losses or lower income than was actually earned.
Manu Jain, the country manager for Xiaomi, was questioned by the central body about possible FEMA breaches. The Karnataka High Court stopped the ED from attaching Xiaomi’s bank accounts with the case’s 5,000 crore. Xiaomi claimed that the ED put pressure on its employees; the agency refuted these claims.
Additionally, in August of last year, five locations, including ZTE’s corporate office, were searched during a raid on the telecom vendor owned by the Chinese government.