NEW DELHI: Chinese language smartphone corporate Vivo’s best executives, Administrators Zhengshen Ou and Zhang Jie, most probably fled India on Wednesday after the Enforcement Directorate (ED) performed raids at its places of work in reference to a prevention of cash laundering case.
Resources mentioned that Zhengshen and Zhang could have fled the rustic by means of the Nepal direction amid fears that they is also arrested. Vivo didn’t remark at the construction.
The raids had been performed at just about 44 places in Uttar Pradesh, Madhya Pradesh, Bihar and in southern states, on Tuesday in reference to the Prevention of Cash Laundering Act (PMLA), 2002.
Resources mentioned the place of business of Vivo and the premises of a couple of different Chinese language companies had been raided. The CBI has additionally been probing the case and lodged a separate first data record.
In a observation to IANS, Vivo had mentioned that it’s cooperating with the government to offer them with all required data. “As a accountable company, we’re dedicated to be totally compliant with rules,” an organization spokesperson mentioned.
In April, the ED seized Rs 5,551.27 crore of Xiaomi Era India Non-public Ltd mendacity within the financial institution accounts underneath the provisions of Overseas Trade Control Act (FEMA) reference to the unlawful outward remittances made by way of the corporate.