Highlight
- The ED said Zhengshen Ou and Zhang Ji, Chinese directors of the GPICPL firm, had fled India last year.
- Official correct report mentioning that Zhengshen Ou and Zhang Jie were the directors of Vivo
- The case is already being investigated by the Central Bureau of Investigation.
alert newsChinese directors of GPICPL Zhengshen Ou and Zhang Jie fled India last year in collaboration with mobile maker Vivo, an Enforcement Directorate official said on Thursday. And they fled when the ED intensified its probe in the money laundering case against the Chinese firm and conducted raids at over 40 places in connection with the case.
“Zhengshen Ou and Zhang Ji are directors of GPICPL, a firm linked to mobile maker Vivo and they fled last year,” the ED official told ANI, requesting anonymity.
The federal agency on Tuesday conducted searches at more than 40 locations in Uttar Pradesh, Madhya Pradesh and some southern states in connection with a case involving Vivo Mobile Communications and some other Chinese firms.
The Central Bureau of Investigation (CBI) is investigating the case. Along with the IT department, the Ministry of Corporate Affairs is also keeping a close watch on Chinese manufacturing firms. This raid by ED is an extension of investigation against Chinese companies.
The ED conducted these searches in connection with the violation of the Prevention of Money Laundering Act (PMLA). The local units of Vivo Mobile Communications have been under the radar for alleged financial irregularities as part of investigations into other Chinese firms, sources said.
The Ministry of Corporate Affairs is known to pay special attention to potential breaches, including fraud. In Vivo’s case, an investigation was sought in April this year to determine whether there were “significant irregularities in ownership and financial reporting”.
(with ANI inputs)
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