The Enforcement Directorate on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA).
The agency is conducting searches at 44 places related to Vivo and associated companies, they said. Bihar, Jharkhand, Uttar Pradesh, Himachal Pradesh, Madhya Pradesh, Punjab and Haryana are some of the states where searches are underway.
Last month, the mobile phone manufacturer’s J&K distributor Grand Prospect International Communication came under the scanner of enforcement agencies after the corporate affairs ministry found that that at least two Chinese shareholders submitted forged documents and bogus Indian addresses.
According to a report in Economic Times, the distributor projected itself as a subsidiary of Vivo China and submitted fake address details on Chinese shareholders Zhengshen Ou and Zhang Jie in official company records. On inquiry, one of the addresses was found to be the residence of a former Shillong chief secretary, while the other was that of a guard room in Himachal Pradesh.
(details awaited)
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