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Vivo responds to employees being arrested in India: All feasible legal measures will be taken to deal with it
Vivo responds to employees being arrested in India: All feasible legal measures will be taken to deal with it
News from this site on October 11, according to Reuters, legal documents and lawyers handling the case said India’s financial crime agency arrested four industry executives on Tuesday on “suspicion of money laundering.” Among them is a Chinese citizen who works at vivo.
According to vivo’s statement in an overseas statement, they stated that they firmly abide by ethical principles and have always been committed to complying with the law. They are extremely concerned about the recent arrests and have said they will take all available legal measures
India’s Enforcement Directorate (ED) did not immediately respond to a request for comment.
According to two sources, four vivo employees were arrested earlier in the day. However, at a court hearing in which executives appeared, lawyers said only one Vivo employee, identified in legal documents as a Chinese national, had been arrested. Further details of the investigation were unclear. Lawyer Manish Jain of the Enforcement Directorate of India sought 10 days of detention for those arrested, but the judge ordered only three days. The first source said the executives were detained in connection with an ongoing case in 2022. Arrested,
In this case, the Indian Enforcement Directorate raided the offices of vivo and accused it of money laundering.
vivo has repeatedly denied these accusations. The company has previously said it will cooperate with Indian authorities, provide them with all required information and is "committed to full compliance with the law."
According to the query on this site, data from research company Counterpoint shows that vivo is the second largest smartphone brand in India, with a shipment market share of 17%, second only to Samsung. However, in 2022, the Enforcement Directorate of India froze 119 bank accounts related to vivo’s Indian business, but the court later revoked this moveRegarding the news that vivo employees were arrested in India, vivo responded to the "Technology Chuangban Daily said: "vivo strictly abides by local laws and regulations in India. We are paying close attention to recent investigations and will take all feasible legal measures to respond."
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