Crackdown on Chinese firms; ED raids 44 locations of Vivo

Updated : Jul 07, 2022 16:26
|
Editorji News Desk

The Enforcement Directorate conducted searches across more than 40 locations of Chinese mobile manufacturers including Vivo and other firms, in relation to the violation of the Prevention of Money Laundering Act (PMLA). 

According to reports, the raids were going on at various premises in Uttar Pradesh, Madhya Pradesh, Bihar and a few southern states. 

This is the second big case that the ED has registered against a Chinese company. Earlier it had booked Chinese mobile manufacturer Xiaomi, for allegedly making illegal foreign remittances in violation of the Foreign Exchange Management Act. 

The scrutiny against Chinese firms tightened after tensions at the border between the two countries in 2020, leading to multiple rounds of talks. More than 200 mobile apps, including TikTok, have been banned since then. 

RaidsVivoChinese App Ban

Recommended For You

editorji | Business

Mallya Calls for Justice Over Excess Debt Recovery and Legal Inconsistencies

editorji | World

UK PM Keir Starmer hosts Indian business chiefs to boost investments

editorji | Business

Bangladesh Government Plans to Renegotiate Power Deal with Adani Power, Citing Unfair Terms

editorji | World

New Zealand falls into recession with abrupt economic slowdown

editorji | Business

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus