ED launches in vivo, other industries to ‘relax economic dependence’: China

The Enforcement Directorate (ED) is continuing to search the home of Chinese companies in a money laundering case, said Wang Xiaojian, a spokesman and spokesman for the Chinese Embassy in India, the investigation is often ongoing. and Indian officials to Chinese businesses “to restrain confidence and desire. Market companies from other countries, including those from China to enter India”.

Xiaojian said the core of China-India economy and trade is about prosperity and winning outcomes.

“The Chinese government has always urged Chinese companies to enforce domestic laws and regulations on their foreign affairs and strongly support Chinese companies to safeguard their human rights and fundamental freedoms,” he said. Zhao in a speech on Wednesday.

“The Indian side must act in accordance with the laws and regulations, and provide a fair and non -discriminatory service for Chinese businesses,” he said.

When ED attacked 44 locations in 22 states on Tuesday and Wednesday, leaders of some of the Vivo -affiliated groups fled to India.

According to sources, two of the Chinese leaders of Solan, a Himachal Pradesh -based company, affiliated with Vivo, may have left India, even though ED has filed a money laundering lawsuit.

The Chinese have become leaders in land mines with fraudulent documents.

The enforcement agency now has information that it has been fined in the amount of Rs 10,000 crore at the time of the attack, according to ED sources.

The Chinese envoy said “frequent scrutiny by Indian authorities on Chinese businesses not only destroys traditional business practices and undermines goodwill, but also hinders the improvement of the economy.” Business in India ”.

The CBI also investigated the case and filed a separate FIR.

Vivo said it was working with officials to give them all the information they needed.

“As a responsible business, we are committed to enforcing the law,” a spokesperson said.

In April, ED seized Rs 5,551.27 crore of Xiaomi Technology India Private Ltd deposited in treasury under the terms of the Foreign Exchange Management Act (FEMA) regarding non -export to made by the company.



(Only the title and image of this report were re -created by Business Standard staff; the rest of the information was created from a syndicated feed.)

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