Vivo money laundering case: Don’t discriminate against our firms, China warns India; Beijing to give protection to 2 accused | India News – Times of India

 Vivo money laundering case: Don't discriminate against our firms, China warns India; Beijing to give protection to 2 accused | India News - Times of India

New Delhi: Beijing will provide consular protection and assistance to two Chinese employees of smartphone maker Vivo, who were recently arrested by the Enforcement Directorate (ED) in connection with a money laundering probe.
Strongly urging India not to discriminate against Chinese companies, Foreign Ministry spokesperson Mao Ning said: “We are closely monitoring the issue. The Chinese government is seeking to protect its legitimate rights and interests. strongly supports companies.”
On December 23, the ED had arrested three Vivo-India executives, including interim CEO Hong Zhuquan alias Terry – a Chinese national, chief financial officer Harinder Dahiya and consultant Hemant Munjal. All three were detained under the provisions of Prevention of Money Laundering. Act (PMLA). The accused are currently in ED custody.
The agency had earlier arrested four people – mobile company Lava International MD Hari Om Rai, Chinese national Guang Wen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik – in the case. He is currently in judicial custody.
The ED, in its court papers submitted for the first four arrests, had claimed that their alleged activities enabled Vivo-India to reap undue benefits that were detrimental to India’s economic sovereignty.
It had raided Vivo-India and its affiliates in July last year and claimed to have uncovered a massive money laundering racket involving Chinese nationals and several Indian companies.
The ED had then alleged that Rs 62,476 crore was “illegally” transferred to China by Vivo-India to avoid paying taxes in India.
The move is seen as part of the Centre’s efforts to tighten checks on Chinese firms allegedly involved in serious financial crimes such as money laundering and tax evasion while operating in India.
(with input from agencies)

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