Enforcement Directorate (ED), India’s anti-money laundering watchdog, has alleged that Vivo India’s bank accounts are involved in money laundering, which is an attempt to destabilise the country’s financial system and threaten the nation’s integrity and sovereignty.
Last week, the agency filed an affidavit in the Delhi High Court against 22 companies connected to the Chinese company’s Indian unit. It was claimed that Vivo laundered a’suspicious’ amount of money to China. “It is being investigated,” according to the affidavit. The ED also drew parallels between these companies’ activities and that of a Vivo distributor in Jammu and Kashmir, Grand Prospect International Communication Private Limited (GPICPL), which forged documents to claim to be a Vivo subsidiary.
