According to a report on the website of Singapore's "Lianhe Zaobao" on December 31, an Indian court ordered on December 30 the release of two senior employees of the Indian subsidiary of Chinese mobile phone manufacturer vivo. Reuters reported that India’s Central Enforcement Directorate, India’s anti-financial crime agency, arrested two executives of vivo’s Indian subsidiary this month on suspicion of money laundering.
The two arrested executives of vivo were taken to a court in Delhi on the 23rd and then sent to the custody of the Central Law Enforcement Bureau.
The Press Trust of India said the two arrested executives were the acting CEO and financial director of vivo's Indian subsidiary, and law enforcement officials also arrested a consultant of the company.
The report quoted Chinese media as saying that in response to the arrests by the Indian authorities, a vivo spokesperson said: "We are deeply shocked by the current actions of the authorities. The recent arrests show that harassment is still continuing, bringing uncertainty to the entire industry. We will resolutely use all legal channels to resolve and challenge these accusations."
The report pointed out that since June 2020, the Indian government has banned more than 200 Chinese mobile applications such as TikTok, WeChat, and UC Browser on the grounds of so-called "national security". At the same time, many companies have been involved in tax turmoil.
According to a report on the Voice of America radio website on December 31, the case in which India's Central Enforcement Bureau arrested executives of the Indian subsidiary of Chinese mobile phone manufacturer vivo on suspicion of money laundering and other charges made new progress on December 30. An Indian court ordered the release of two executives, including a Chinese citizen, on the same day.
The report stated that the release of the two company executives does not mean that the Indian government’s money laundering charges against vivo have been concluded.
vivo mobile phone company, headquartered in Guangdong Province, China, is the second largest mobile phone brand in the Indian market, with sales ranking only after South Korea's Samsung. However, since 2022, vivo has been investigated by the Indian government for alleged money laundering and tax evasion charges.
Chinese Foreign Ministry spokesperson Mao Ning said at a regular press conference that China is paying close attention to the progress of the money laundering case involving vivo.
"The Chinese Embassy and Consulates in India will continue to provide consular protection and assistance to relevant individuals in accordance with the law," Mao Ning said. "We hope that India will fully realize the reciprocal nature of business cooperation between our two countries and provide a fair, just, transparent and non-discriminatory business environment."