Phone Maker Vivo Involved In Laundering, Bank Accounts Show: Probe Agency
NDTV
ED argued that the present offence allegedly committed by Vivo is the "offence of money laundering which is a heinous economic offence".
The Enforcement Directorate (ED) has claimed in the Delhi High Court that bank accounts of Chinese smartphone maker Vivo, which were seized by the agency, allegedly show its involvement in money laundering and it has been carried out as an attempt to destabilise the financial system of the country.
ED argued that the present offence allegedly committed by the company is the "offence of money laundering which is a heinous economic offence".
The agency made the contentions in an affidavit filed in pursuance to the directions of Justice Yashwant Varma which had sought a response from ED on a petition by Vivo seeking quashing of an order freezing its various bank accounts in connection with the money laundering probe.
The court is scheduled to hear the matter on July 28.
