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ED gets 3-day custody of top Vivo India execs

Livemint

Livemint · 1y ago

ED gets 3-day custody of top Vivo India execs

Vivo India's interim CEO, CFO, and consultant have been arrested by the Enforcement Directorate (ED) on charges of money laundering. They have been remanded to custody for three days. The arrests were made due to their alleged involvement in acquiring proceeds of crime amounting to ₹20,241 crore. The executives are accused of not cooperating with authorities. This comes after the arrest of four industry executives in October, including a Chinese national, for alleged wrongdoings by the Chinese smartphone maker in India. The ED had raided Vivo India last year for its involvement in a money-laundering racket.

Related News

ED files first chargesheet against Chinese smartphone maker Vivo-India, others

Livemint

Livemint · 1y ago

ED files first chargesheet against Chinese smartphone maker Vivo-India, others

The Enforcement Directorate (ED) has filed its first chargesheet against Chinese smartphone maker Vivo and others in connection with a money laundering probe. Vivo-India has been named as an accused, along with those already arrested in the case. The ED alleges that Vivo-India siphoned off $13 billion abroad, causing wrongful gains detrimental to India's economic sovereignty. The probe agency had raided Vivo-India and its linked persons last year, claiming to have uncovered a major money laundering racket involving Chinese nationals and multiple Indian companies.

Trouble mounts for Vivo as three more officials in ED net

Inc42 · 1y ago

Trouble mounts for Vivo as three more officials in ED net

The Enforcement Directorate (ED) has made three more arrests in connection with its probe against Chinese smartphone makers, including Vivo. This comes after the ED filed a chargesheet against Vivo under the Prevention of Money Laundering Act (PMLA), alleging that the company diverted nearly INR 1 lakh crore from India to overseas through shell companies. Earlier, four individuals were detained under the PMLA related to Chinese smartphones, including Lava International MD Hari Om Rai. The government has also halted the export of 27,000 Vivo phones from India.

Vivo money laundering case: China breaks silence on arrest of citizens

Livemint

Livemint · 1y ago

Vivo money laundering case: China breaks silence on arrest of citizens

Chinese authorities have responded to the recent arrests made by the Enforcement Directorate (ED) in connection with a money laundering probe involving Vivo India employees. The Chinese foreign ministry stated that China would provide "consular protection" to its citizens arrested in India and emphasized the need for a fair and transparent business environment. The ED had recently arrested Vivo-India's interim CEO, CFO, and a consultant, alleging illegal activities that resulted in monetary gains for the company. Vivo has expressed concern over the arrests, calling it harassment.

India's Enforcement Directorate arrests Vivo Mobile executives

Reuters · 1y ago

India's Enforcement Directorate arrests Vivo Mobile executives

Four executives of China-owned Vivo Mobile, including a Chinese national, have been arrested by India's Enforcement Directorate (ED). The details and reasons for the arrests have not been disclosed yet. Vivo Mobile and the ED have not provided any comments regarding the matter.

Best mobile phones in India under ₹40,000 (December 2024): OnePlus 12R, Vivo T3 Ultra and more | Mint

Livemint

Livemint · 8m ago

Best mobile phones in India under ₹40,000 (December 2024): OnePlus 12R, Vivo T3 Ultra and more | Mint

The article provides a list of the best mobile phones available in India under ₹40,000 as of December 2024, featuring top picks from brands like OnePlus, Vivo, Realme, and Motorola. The OnePlus 12R stands out with its Snapdragon 8 Gen 2 chipset, dynamic 120Hz AMOLED display, and 50MP camera. Vivo T3 Ultra highlights include the MediaTek Dimensity 9200+ chipset and a 50MP selfie camera. Realme GT 6 offers a triple-camera setup and Snapdragon 8s Gen 3, while Motorola Edge 50 Pro features a Snapdragon 7 Gen 3 chipset.

ED Questions Paytm executives, Gets Documents On Latest RBI Action

OutlookIndia

OutlookIndia · 1y ago

ED Questions Paytm executives, Gets Documents On Latest RBI Action

The Enforcement Directorate (ED) has questioned senior executives at Paytm and collected documents following the recent action by the Reserve Bank of India (RBI) to restrict Paytm Payments Bank from accepting deposits or top-ups in customer accounts. The ED is conducting a preliminary examination to determine whether to launch a formal investigation into alleged irregularities at the company under the Foreign Exchange Management Act. Paytm is already under investigation for potential money laundering activities. The RBI directed Paytm Payments Bank to stop accepting deposits after February 29.

Paytm Bank gets a knock on the door from ED

Livemint

Livemint · 1y ago

Paytm Bank gets a knock on the door from ED

India's Directorate of Enforcement (ED) is conducting a preliminary inquiry into potential breaches at Paytm Payments Bank, following a referral from the Reserve Bank of India (RBI). The ED, known for investigating money laundering and forex violations, has not yet registered an enforcement case. The RBI and ED are currently the only entities involved, with the government refraining from interference. The ED will assess the concerns raised by the RBI and address any deficiencies found. Compliance breaches generally fall under the purview of sectoral regulators.

Key Vendor In BharatPe Fraud Case Arrested: Report

Inc42 · 1y ago

Key Vendor In BharatPe Fraud Case Arrested: Report

The Delhi Police's Economic Offences Wing (EOW) has arrested Amit Kumar Bansal, a key vendor involved in the BharatPe fraud case. Bansal was taken into custody on August 6 and has been granted six-day police custody. The fintech company had filed a complaint with the EOW, accusing Ashneer Grover and his family of fraud amounting to INR 81.28 crore.

From Vivo V50 to iQoo Neo 10R: Upcoming mobile launches expected in February 2025 | Mint

Livemint

Livemint · 6m ago

From Vivo V50 to iQoo Neo 10R: Upcoming mobile launches expected in February 2025 | Mint

February 2025 is anticipated to see the launch of several smartphones from brands like Vivo and Asus. The Vivo V50 series may feature a 6.67-inch AMOLED display and a 50MP camera. iQoo Neo 10R, priced under ₹30,000, could include a Snapdragon 8s Gen 3 processor and a 50MP camera. Tecno's new curved-display phone in India might introduce an advanced camera module with LED lighting, continuing the Pova series legacy.

Arrests continue in Mahadev Betting app case: Two with ‘Close’ links to other accused held

Inc42 · 1y ago

Arrests continue in Mahadev Betting app case: Two with ‘Close’ links to other accused held

In relation to the Mahadev online betting app case, two individuals have been arrested by the Enforcement Directorate. The accused, Nitin Tibrewal from Kolkata and Amit Agrawal from Raipur, were apprehended under the Prevention of Money Laundering Act (PMLA). They were produced before a special court in Raipur and have been remanded to ED custody until January 17. The Mahadev app has been at the center of a gambling controversy, allegedly involving a sum of INR 15,000 Crore.

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