 "Gavel, Law & Order")
A court here on Wednesday sent Lava International MD Hari Om Rai and Chinese national Guangwen Kuang to judicial custody till October 30 in a money laundering case against Chinese smartphone maker Vivo.
Additional Sessions Judge Devender Kumar Jangala, however, extended by two days the custodial interrogation of co-accused Nitin Garg.
Click here to connect with us on WhatsApp
The court passed the order on an application moved by the Enforcement Directorate.
The three accused were produced before the court on completion of their ED custody granted earlier. They were arrested under the provisions of the Prevention of Money Laundering Act (PMLA).
The smartphone company has denied the allegations.
Vivo has constantly denied the allegations. We will pursue necessary and appropriate legal recourse, a company representative said in a statement.
More From This Section
The ED had raided the Chinese company and individuals linked to it in July last year, claiming to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies.
The agency had alleged that a whopping Rs 62,476 crore was "illegally" transferred by Vivo to China in order to avoid paying taxes in India.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
