India

Vivo Execs Flee Country After ED Raids 44 Locations In India; Are Chinese Brands In Trouble Again?

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Vivo is having some troubled times in India after the Enforcement Directorate (ED) raided Vivo offices in the country. The ED alleges Vivo of money laundering, which led to a series of raids. In the latest news, Vivo's top executives Zhengshen Ou and Zhang Jie are believed to have fled the country.

 
Vivo Execs Flee Country After ED Raids 44 Locations In India

Vivo Trouble In India

Vivo has had some trouble in India for the past few days. The Enforcement Directorate has raided Vivo at roughly 44 locations in India, including additional facilities that were setup in the country. When the raids began, the company said it would be cooperating with the authorities.

"Vivo is cooperating with the authorities to provide them with all required information. As a responsible corporate, we are committed to being fully compliant with laws," a Vivo India spokesperson said.

Vivo Execs Flee India After Allegedly Forging Documents

In the latest development, sources suggest ED has raided another company that was connected with Vivo. Here, directors Zhengshen Ou and Zhang Jie have likely fled India as they had allegedly forged documents to set up this sub-company.

Sources informed our Senior Correspondent- Rohit Arora, that a case has been registered in Kalka Ji Police Station, New Delhi, and an investigation is under process. Our source tells us that the Chinese nationals were made directors in the Indian entities with fake documents. So far, ED has received information about money laundering worth Rs. 10,000 crores during the raids.

Vivo Execs Flee Country After ED Raids 44 Locations In India

Fresh reports suggest the Chinese executives have taken the land route via Nepal to flee the country. However, none of these have been officially confirmed yet. More information is expected to pop up in the coming hours. That said, we're still unclear about the true identity of executives and the position they held at Vivo India.

 

Are Chinese Brands In Trouble Again?

The Indian mobile market is filled with Chinese brands like Oppo, Realme, Xiaomi, OnePlus, and much more. Moreover, this isn't the first time that Chinese brands have come under the Indian government's radar.

Presently, the Vivo case is still being investigated, and brands like Xiaomi and Oppo are also under the radar. It remains to be seen if the ED raids and investigation would affect Vivo smartphone launches and sales in India.

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