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HomeIndiaHC extends custody remand of Vivo executives in money laundering case

HC extends custody remand of Vivo executives in money laundering case

Accused Vivo government being introduced in court docket. PHOTO: ANI

Three Vivo-India executives had been despatched in two extra days of custody of the Enforcement Directorate on Tuesday, in response to a Patiala Home Court docket ruling. The executives are beneath investigation for attainable cash laundering associated to the Chinese language smartphone producer and different issues.

The Enforcement Directorate (ED) not too long ago arrested the three accused, together with the interim CEO, as a part of an ongoing investigation into the central company’s cash laundering probe.

The accused, who had been taken into custody by the Enforcement Directorate on December 22, 2023, had been Hemant Munjal, a guide for VIVO, Hong Xuquan, also called Terry, the interim CEO of VIVO India, and Harinder Dahiya, the corporate’s chief monetary officer.

On Tuesday, Extra Classes Choose Aparna Swami, after listening to the submissions at size from each side, determined to ship all three accused to 2 days of additional remand to ED.

Advocate Manish Jain and Simon Benjamin appreciated the Enforcement Directorate within the matter and Senior Advocates Siddharth Aggarwal and Arvind Nayyar appeared for the accused individuals within the matter.

On this case, the Enforcement Directorate arrested 4 accused in October, together with a Chinese language nationwide and the MD of Lava Worldwide.

Not too long ago, the Patiala Home Court docket of Delhi took cognizance of a prosecution grievance (chargesheet) filed by the Enforcement Directorate in reference to a Prevention of Cash Laundering Act (PMLA) case associated to the Chinese language cellular firm Vivo involving Chinese language nationwide Guangwen Kuang, Lava Worldwide’s MD Hariom Rai, Nitin Garg and Rajan Malik beneath the completely different sections of the Cash Laundering Act.

In keeping with the sources, ED has additionally named VIVO Firm as an accused within the matter of allegedly dishonest the Authorities of India. It additionally said that the corporate has arrange an intricate community in India.

(with inputs from ANI)

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