The raids are been conducted in Vivo and other firms in this matter Beijing asked about the ongoing raid being conducted in the Vivo offices in India. As the Chinese Foreign Ministry spokesperson Zhao Lijian told in a media briefing in which it was stated Chinese side is closely following the developments in this matter.
As per the reports, Zhao said “As I have stressed many times, the Chinese government has always asked Chinese companies to abide by laws and regulations when doing business overseas”.
“In the meantime, we firmly support Chinese companies in safeguarding their lawful rights and interests,” he said.
The Enforcement Directorate raided approximately 44 places of Vivo offices in several locations across India on Tuesday in a money laundering investigation.
The searches of the raid were conducted under the sections of the Prevention of Money-laundering Act (PMLA) at locations in several states across India which are Delhi, Uttar Pradesh, Meghalaya, and Maharashtra.
In a report it has stated that Vivo India’s Spokesperson said they’re cooperating with authorities.
A Spokesperson stated “We hope the Indian authorities will abide by laws as they carry out the investigation and enforcement activities and provide a truly fair, just, and non-discriminatory business environment for Chinese companies investing and operating in India,”
“We hope the Indian authorities will abide by-laws as they carry out the investigation and enforcement activities and provide a truly fair, just, and non-discriminatory business environment for Chinese companies investing and operating in India”.
This action is being carried out as part of the Union Government’s steps to tighten checks on chinese entities and they are in continuation to crackdown on the chinese firms and other Indian operative firms which are linked to them that are allegedly indulging in financial crimes like money laundering and tax evasion while operating in India.
