Delhi HC dismisses plea seeking release filed by an arrested Vivo Group executive
PMLA) court's order which granted custody of four arrested Vivo Group executives by the the Enforcement Directorate, the Delhi High Court (HC) dismissed a plea filed by one of the accused.
Earlier this week, ED arrested four executives of Vivo including the petitioner, Guangwen Kuang alias Andrew over allegations of money laundering. The ED contested that those arrested helped in the incorporation of a mesh of 18-19 companies in India having Chinese nationals as their directors and that despite them operating in India, their data was not maintained in India, rather maintained in the servers in China.
ED probe has allegedly revealed that Grand Prospect International Communication Pvt. Ltd.
(GPICPL) incorporated in 2014 was engaged in the business of distribution and providing after sales services of Vivo mobile phones and accessories in the State of Himachal Pradesh, Jammu and Kashmir and Leh and Ladakh. Between 2014 and December, 2021, the said company had received total credits of approximately Rs.1487 crore in its bank account through its business activities.
Of this, approximately Rs.1200 crore had been transferred to the accounts of Vivo Mobiles India Pvt. Ltd.
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