Vivo used shell companies to send ₹1 trillion out of India: ED

Probe finds Vivo incorporated 19 more firms in various cities after its 2014 India entry

- Neeraj Chauhan

• The ED probe, which began in 2022, has found that Vivo incorporated 19 more companies in various cities after its entry in India in 2014

The Enforcement Directorate (ED) has filed a charge sheet in its money-laundering probe against Chinese phone manufacturer Vivo, alleging that shell companies were used to remit 1 trillion outside India between 2014 and 2021, people familiar with the development said.