In relation to a money laundering investigation against the Chinese smartphone manufacturer and others, a Delhi court on Tuesday extended by two days the Enforcement Directorate's custody of three vivo-India officials.
On the ED's request, Judge Aparna Swami prolonged the custody of Hemant Munjal, a consultant, Chief Financial Officer (CFO) Harinder Dahiya, and interim CEO of Vivo-India Hong Xuquan, also known as Terry. Upon the expiration of their previous three-day ED custody, the defendants appeared in court.
Under the Prevention of Money Laundering Act (PMLA), the accused were placed under arrest. The Chinese citizen Guangwen, alias Andrew Kuang, the MD of mobile company Lava International, Nitin Garg and Rajan Malik, both chartered accountants, and Chinese national Hari Om Rai were previously detained by the federal agency.
They are in judicial custody at present. The ED had filed a charge-sheet against the four in a special PMLA court in Delhi. The court recently took cognisance of the charge-sheet.
The Enforcement Directorate is set to present the remaining application related to the case on December 28, as the PMLA Court continues to delve into the details of the alleged financial misconduct. The charges revolve around the illicit movement of funds from vivo India to its parent company in China, raising concerns about the potential misuse of financial resources.
(With inputs from PTI)
(Edited by : Pihu Yadav)
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