Indian Law Enforcement Agency Raids Vivo Company

Phoenix Network Technology News Beijing time July 5th news, sources revealed that India’s financial crime fighting agency raided vivo’s office on Tuesday, according to local media reports,The law enforcement search was part of an investigation into alleged money laundering.As of press time, vivo has not responded to the matter.

It is reported that the enforcement agency has searched as many as 44 locations of vivo and its related companies across India, based on the Prevention of Money Laundering Act.

On May 31, it was reported that India was investigating the subsidiaries of ZTE and vivo in India, and the Ministry of Corporate Affairs of India said it had received reports from anonymous sources that ZTE and vivo had irregularities including fraud.

In this regard, Zhao Lijian, a spokesman for the Ministry of Foreign Affairs, once said that China is closely following this matter. China has always required Chinese companies to operate legally and compliantly overseas, and at the same time firmly supports Chinese companies in safeguarding their legitimate rights and interests. The Indian side should act in compliance with the law and serve China. Enterprises investing and operating in India provide a fair, just and non-discriminatory business environment.

Since 2020, India has stepped up its scrutiny of Chinese companies, banning more than 200 mobile apps served by Chinese companies, including AliExpress from Ali, ByteDance’s TikTok, Tencent’s Wechat, and more.

In December 2021, India conducted surprise tax inspections on mobile phone manufacturers such as Xiaomi, OPPO and OnePlus.

In January 2022, the Ministry of Finance of India issued a “high-priced tax bill” of 560 million yuan to Xiaomi.

In May, the Ministry of Finance of India took another action against Xiaomi, detaining 55.51 billion rupees of assets in the bank account of Xiaomi India in the name of suspected violation of foreign exchange laws, and then unfrozen.