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Vivo remitted over ₹1 lakh crore outside India since its entry in India in 2014 : ED

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  1. The Enforcement Directorate (ED) has filed a charge sheet against Chinese phone maker Vivo, alleging the remittance of over ₹1 lakh crore outside India between 2014 and 2021 using shell companies.
  2. Vivo, as a company, has also been named as an accused in the charge sheet under the Prevention of Money Laundering Act (PMLA).
  3. The probe uncovered the incorporation of 19 additional companies by Vivo in India with Chinese nationals as directors and/or shareholders to control Vivo Mobiles’ supply chain.
  4. Vivo allegedly entered India under the guise of a wholesale cash and carry business to avoid government approval, according to the findings by the ED.

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