Vivo money laundering case is referred to the Serious Fraud Investigation Office by the Corporate Affairs Ministry

 Vivo money laundering case is referred to the Serious Fraud Investigation Office by the Corporate Affairs Ministry

Vivo money laundering case is referred to the Serious Fraud Investigation Office by the Corporate Affairs Ministry

This occurs over two months after four executives of Vivo Mobiles, including a Chinese national, were taken into custody by the Enforcement Directorate (ED) in connection with its continuing probe into possible money laundering.

As part of an investigation into money laundering, the ED searched 48 locations connected to Vivo and its partners last year.

On December 1, sources revealed CNBC-TV18 that the Serious Fraud Investigation Office (SFIO) has been tasked with investigating the Vivo Mobiles matter by the Ministry of Corporate Affairs' monitoring committee.

This occurs over two months after four executives of Vivo Mobiles, including a Chinese national, were taken into custody by the Enforcement Directorate (ED) in connection with its continuing probe into possible money laundering.

According to the ED, Vivo "illegally" moved Rs 62,476 crore to China in order to avoid paying taxes in India.

As part of a money laundering investigation, the agency searched 48 locations associated with Vivo and its affiliates last year. Vivo was charged with using indirectly owned firms to move money to China illegally in order to avoid paying taxes in India. was charged with.