Vivo money laundering case: China breaks silence on arrest of citizens, says ‘hope India will….’
Chinese embassy and consulates in India will continue to provide consular protection and assistance to the individuals concerned in accordance with the law," Chinese foreign ministry spokesperson Mao Ning said. Mao Ning added that China expects a fair, just, transparent, and non-discriminatory business environment from India.
"The Chinese government firmly supports Chinese businesses in safeguarding their lawful rights and interests. We hope that India will fully recognize the mutually beneficial nature of the business cooperation between our two countries and provide a fair, just, transparent, and non-discriminatory business environment," she added.
The development comes days after ED arrested interim CEO of Vivo-India Hong Xuquan alias Terry, Chief Financial Officer (CFO) Harinder Dahiya, and consultant Hemant Munjal. The fresh arrests came two months after the federal agency arrested four industry executives, including a Chinese national (Kyang alias Andrew Kuang) working for Vivo's Indian arm, Lava International MD Hari Om Rai, and chartered accountants Nitin Garg and Rajan Malik in the same case.
In a chargesheet filed earlier this month, the ED submitted in court that the four accused conducted illegal activities that enabled Vivo India to make wrongful gains up to the tune of ₹1 lakh crore, which the company remitted abroad between 2014 to 2021. The agency also added that the illegal operations of Vivo India were detrimental to the economic sovereignty of India.
After the arrests and subsequent chargesheet by the ED, Vivo said that it was deeply alarmed by the action of Indian authorities. "The recent arrests demonstrate continued harassment and as such induce an environment of uncertainty amongst the wider
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