A case of money laundering related to Chinese smartphone company Vivo has come to light. Delhi’s Patiala House Court has booked Vivo-India’s interim CEO Hong Shuquan, Vivo India’s CFO Harinder Dahiya and others in a money laundering case related to Chinese smartphone company Vivo India in connection with the sending of more than Rs 62 thousand crore of illegal money to China. Gave relief to advisor Hemant Munjal. Considering that the arrest of the three accused was not in accordance with the procedure, the Patiala House Court has ordered their release on a fine of Rs 2 lakh each.
Present in Patiala House Court
Vivo India CEO Zukwan (Terry), CFO Harinder Dahiya, and consultant Hemant Munjal were produced in the Patiala House Court after a day’s ED custody. All three had taken counter action in the court against their arrest. Commenting on this matter, China also said that it will support Chinese companies to protect their legitimate rights and interests. Chinese Foreign Ministry spokesperson Mao Ning said that China has taken note of the issue and the Chinese Embassy and Consulates in India will provide protection and assistance to the persons concerned in accordance with the law.
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What was the matter?
ED has claimed in the charge sheet of the money laundering case against Vivo that Vivo has sent Rs 1 lakh crore of black money abroad through shell companies from 2014 to 2021. In this case, Vivo-India’s interim CEO Juquan (TERI), CFO Harinder Dahiya and consultant Hemant Munjal were detained under the Prevention of Money Laundering Act (PMLA). Earlier too, ED had arrested four people in this case, which included Hariom Rai, managing director of mobile company Lava International, Chinese national Guangwen or Andrew Kuang, chartered accountant Nitin Garg, and Rajan Malik.
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