ED Searches Several Locations Of Vivo, Others

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By: Anand Singh
Updated: 06 July, 2022 1:11 pm IST
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NEW DELHI: Months after the Enforcement Directorate (ED) attached assets worth Rs 5,500 crore of Chinese mobile maker Xiaomi, the financial probe agency on Tuesday carried out searches at another Chinese mobile manufacturer Vivo and its sister concern companies.

According to ED sources, the financial probe agency sleuths carried out searches at over 44 locations in Haryana, Punjab, Uttar Pradesh, Madhya Pradesh, Himachal Pradesh, Jharkhand and Bihar in connection with a fresh money laundering probe.

The source said that the searches are on at the premises of Vivo and some other companies associated with it.

The development comes months after the ED attached assets worth Rs 5,500 crore of Xiaomi in connection with a violation of the Foreign Exchange Management Act (FEMA).

ALSO READ: Chinese Directors Of Firm Associated With Vivo Flee As ED Continues Raids

In April this year, the ED also questioned Xiaomi’s global vice-president Manu Kumar Jain in connection with the case.

The development holds significance as India and China are engaged in a bitter war of words over the Line of Actual Control in Ladakh.

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