"Bhaag bhaag DK bose": Vivo directors Zhengshen Ou and Zhang Jie fled from India as ED intensified inquiry into money laundering case against Chinese firm, 44 locations searched across the country, Ministry of Corporate Affairs also keeping a close eye
Chinese directors Zhengshen Ou and Zhang Jie of a firm GPICPL, in association with mobile maker Vivo, fled India last year, an Enforcement Directorate official informed on Thursday.
The official corrected the report, which mentioned that Zhengshen Ou and Zhang Jie were Vivo's directors. They fled when the ED intensified its inquiry into the money laundering case against the Chinese firm and conducted raids over 40 locations in connection with the matter.
"Zhengshen Ou and Zhang Jie are directors of GPICPL, a firm associated with mobile maker Vivo, and they fled last year," the ED official told ANI, requesting anonymity.
|
The federal agency on Tuesday conducted searches at more than 40 locations in Uttar Pradesh, Madhya Pradesh, and some southern states in connection with a case linked to Vivo Mobile Communications and some other Chinese firms.
The Central Bureau of Investigation (CBI) has already investigated the case.
IT department and the Ministry of Corporate Affairs are also closely monitoring the Chinese manufacturing firms. The ED raid is an extension of the probe against Chinese firms.
|
The ED conducted these searches concerning violations of the Prevention of Money Laundering Act (PMLA).
Sources said that local units of Vivo Mobile Communications are under the radar for alleged financial improprieties as part of the investigation into other China-based firms.
Ministry of Corporate Affairs has learned to focus on potential violations, including fraud.
In the case of Vivo, an inquiry was sought in April this year to detect if there were "significant irregularities in ownership and financial reporting."
|
In April, the ED seized Rs 5,551.27 crore of Xiaomi Technology India Private Ltd lying in the bank accounts under the Foreign Exchange Management Act (FEMA) in connection with the illegal outward remittances made by the company.
What is Vivo?
Support Us
Satyagraha was born from the heart of our land, with an undying aim to unveil the true essence of Bharat. It seeks to illuminate the hidden tales of our valiant freedom fighters and the rich chronicles that haven't yet sung their complete melody in the mainstream.
While platforms like NDTV and 'The Wire' effortlessly garner funds under the banner of safeguarding democracy, we at Satyagraha walk a different path. Our strength and resonance come from you. In this journey to weave a stronger Bharat, every little contribution amplifies our voice. Let's come together, contribute as you can, and champion the true spirit of our nation.
 |  |  |
| ICICI Bank of Satyaagrah | Razorpay Bank of Satyaagrah | PayPal Bank of Satyaagrah - For International Payments |
If all above doesn't work, then try the LINK below:
DISCLAIMER: The author is solely responsible for the views expressed in this article. The author carries the responsibility for citing and/or licensing of images utilized within the text. The website also frequently uses non-commercial images for representational purposes only in line with the article. We are not responsible for the authenticity of such images. If some images have a copyright issue, we request the person/entity to contact us at satyaagrahindia@gmail.com and we will take the necessary actions to resolve the issue.
