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ED charge sheet in Vivo case says ‘web of companies’ diverted Rs 1 lakh crore sent to China

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According to the charge sheet, details of which have been accessed by ThePrint, the funds were remitted outside India since the company’s inception, to some trading companies that were hired with the “intent to create a masking layer so that control of Vivo, China, over these Indian companies does not come to the notice of the government authorities”. This is among the charges made in the charge sheet filed by the Enforcement Directorate (ED) in the money-laundering probe against the company. New Delhi: Vivo, a Chinese phone manufacturer, allegedly used a web of nearly two dozen shell companies to remit…

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