Vivo under laundering cloud as ED raids firm’s 44 offices

In yet another instance of the government coming down hard on Chinese firms, the Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against smartphone manufacturer Vivo and related firms.

After the Indo-China border tensions in mid-2020, the government has been taking a tough stance against Chinese investments. It banned more than 300 Chinese apps the same year and barred vendors from countries sharing land border with India from bidding for any public projects without its prior approval.

Subsequently, Chinese telecom handset firms and gear manufacturers have been subjected to searches by ED and the income tax department for alleged violation of financial laws. Sources said that the searches at Vivo are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar Pradesh, Meghalaya, Maharashtra and others.