New Delhi: Enforcement Directorate is conducting raids at the Chinese phone company Vivo’s various locations across the country. The raid is on the basis of money laundering case linked to Vivo.
Raids are going on at Vivo’s offices located in Uttar Pradesh, Delhi, Meghalaya and Maharashtra. The raids are being conducted at various offices at the same time.
As per the reports, the company has made inflated payments, manipulated its records so as to evade from tax. The Intelligence Department had already found fraud in Vivo’s accounts and crores of rupees were swindled and was used for foreign investment.
In last December, the Income Tax Department had conducted raids at more than 20 lakh offices including that of Vivo, Oppo, Xiaomi and One plus.
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