Page 17 - Latest Updates on Vivo
Vivo's Chinese shareholders used forged driving licenses: ED to Delhi HC
The ED has mentioned that Vivo India incorporated 22 firms in different states which allegedly laundered money. The Delhi-based CA firm helped Vivo India in integrating 22 firms.
 "Vivo's Chinese shareholders used forged driving licenses: ED to Delhi HC")
Vivo India challenged integrity, sovereignty of India: ED to Delhi HC
The ED has told Delhi High Court through an affidavit that Vivo India indulged in money laundering to destabilise the financial system and challenge the integrity and sovereignty of the country
Indian phonemakers served notices by Customs, get Rs 20,000 cr tax bill
Before September 2020, there was no import duty on such panels, but from October 1, 2020, an import duty of 10% is levied under the Centre's phased manufacturing programme
 "Indian phonemakers served notices by Customs, get Rs 20,000 cr tax bill")
HC directs Vivo to give Rs 950-cr bank guarantee to operate bank accounts
The phone manufacturer had said the account freeze would hamper its ability to pay for its liabilities, such as taxes and employee salaries
Top headlines: Rs 4k-cr duty evasion by Oppo, says DRI; Mindtree Q1 net up
Oppo India, the Indian subsidiary of a Chinese firm, deals in various brands of mobile phones, including Oppo, OnePlus and Realme
 "Top headlines: Rs 4k-cr duty evasion by Oppo, says DRI; Mindtree Q1 net up")
India should give fair legal treatment to Vivo, OPPO, Xiaomi: Chinese media
If the Indian legislation system really fails them, it will be a huge loss to both sides, according to an opinion piece in Global Times.
Delhi HC allows Vivo to operate accounts frozen by ED in tax evasion probe
Vivo can operate its bank accounts to the extent that a balance of Rs 250 crore is maintained in its accounts at all times, the court said
Glance user base grows by 30% YoY to reach 183 million in Q1 2022
Inmobi's Glance, which is present in India, Indonesia and parts of Southeast Asia, is focussing heavily on expansion in existing as well as new markets
 "Glance user base grows by 30% YoY to reach 183 million in Q1 2022")
Delhi HC asks ED to consider Vivo's representation on freeing bank accs
ED's money-laundering probe into Vivo revealed the company, to avoid paying taxes in India, remitted about Rs 62,476 crore of its turnover to China between 2017 and 2021
Vivo's parent firm, BBK Electronics, owns 40% of India's smartphone market
Vivo India's share jumped from 10% in 2017 to 15% in 2021; sister concern Realme's quadrupled in last 4 years
Delhi HC asks ED to decide on Vivo's request to operate its bank accounts
The Delhi HC on Friday directed the Enforcement Directorate (ED) to take a decision on Chinese smartphone manufacturer Vivo's representation seeking permission to operate its frozen bank accounts.
 "Delhi HC asks ED to decide on Vivo's request to operate its bank accounts")
Top headlines: TCS beats street estimates, ED fines Amnesty India, and more
TCS' net profit grew 5.2 per cent year on year, and 2.5 per cent sequentially to Rs 9,478 crore in Q1FY23, but missed estimate of Rs 9,850 crore
 "Top headlines: TCS beats street estimates, ED fines Amnesty India, and more")
Vivo moves Delhi HC challenging freezing of various bank accounts by ED
Vivo said the orders against it are in stark contravention to the mandate of Section 17 of the PMLA, as the same do not entail any reasons for freezing
Delhi HC allows urgent listing of Vivo's plea over freezing of bank account
The Delhi High Court on Friday allowed the urgent listing of a plea by Chinese smartphone maker Vivo against the freezing of its bank accounts in connection with a money-laundering probe by the ED
Top Headlines: UK crisis to delay FTA; revenue from govt's new levies
The government's new levies could help balance the Budget and leave room for more money to be spent on infrastructure like roads. Read more on this in our top headlines
 "Top Headlines: UK crisis to delay FTA; revenue from govt's new levies")
Companies operating in India need to follow law of land: MEA on Vivo
The Ministry of External Affairs (MEA) on Thursday said the companies that operate in India need to follow the law of the land
 "Companies operating in India need to follow law of land: MEA on Vivo")
Vivo India transferred Rs 62,476 crore to China to avoid paying taxes: ED
According to the agency, 18 companies helped the smartphone maker to transfer 50 per cent of the turnover outside India, mainly China
Vivo India remitted about 50% of its turnover to China to avoid taxes: ED
ED seizes funds of Rs 465 crore, Rs 73 lakh in cash and 2 kg gold under anti-money laundering law after raids on Vivo
 "Vivo India remitted about 50% of its turnover to China to avoid taxes: ED")
ED raids at Vivo, other firms will 'chill investment confidence': China
As the ED raided 44 locations in 22 states on Tuesday and Wednesday, the directors of some of the companies associated with Vivo fled India
 "ED raids at Vivo, other firms will 'chill investment confidence': China")
Chinese directors of firm associated with Vivo fled India last year: ED
The official corrected the report which mentioned that Zhengshen Ou and Zhang Jie were directors of Vivo and they fled when the ED intensified its inquiry into the money laundering case
 "Chinese directors of firm associated with Vivo fled India last year: ED")