India Business News: A Delhi court has denied bail to Hariom Rai, the MD of mobile firm Lava International, in a case related to alleged money laundering and tax dodging by Chinese phone major Vivo and its associates. Read the latest news on this development.
The Delhi High Court has instructed the accused individuals in the Vivo money laundering case not to exit the country and to provide an undertaking to this effect. Additionally, they are required to report to the Enforcement Directorate on Mondays and Fridays until the next hearing scheduled for January 11. The Enforcement Directorate had appealed to the Delhi High Court challenging the trial court s decision to release the three accused, including Vivo s interim CEO, in the money laundering case.
The Delhi High Court on Wednesday ordered the accused in the Vivo money laundering case to file their replies in a week to a plea by the Enforcement Directorate (ED) challenging a trial court order for their release.
On December 30, a court in Delhi court granted the relief to the Vivo executives observing that the accused were not produced before the court within 24 hours of the arrest, hence their