The Indian law enforcement agency Enforcement Directorate (ED), arrested four executives involved with the smartphone industry
These individuals include a Chinese citizen working in Vivo India, with charges related to illegal remittances, as reported by the Reuters last Tuesday.
After the border conflict between China and India that happened in June 2020, Indian authorities are increasingly targeting Chinese companies, especially those related to the Smartphone industry. The recent arrests, coupled with other past actions such as surprise raids and asset freezes, show a gradual escalation of restrictions on Chinese businesses operating in India.
Η Vivo responded to the arrests by expressing deep concern and stating that it would take all available legal measures to address the issue. The company said in a statement last Tuesday that it fully complies with the law.
Earlier in the day, two sources told the Reuters, that a total of four of its employees Vivo they had been arrested. However, during the hearing, it was revealed that only one of its employees was arrested Vivo, identified as Guanwen Kuang (Chinese national). Indian law enforcement advocate Enforcement Directorate, Manish Jain, requested a ten-day detention for those arrested, but the judge granted only three days.
Last Wednesday, the Ministry of Foreign Affairs of China stated that it is closely monitoring the alleged money laundering case involving the Vivo in India, and also expressed the hope that the Government of India would provide a fair, transparent and impartial business environment for all Chinese companies operating in the country.
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