Chinese Smartphone Companies

On July 5, 2022, the enforcement directorate (ED) carried out searches at 48 locations across the country belonging to Vivo Mobiles India Pvt Ltd and its 23 associated companies including Grand Prospect International Communication Pvt Ltd (GPICPL), under Prevention of Money Laundering Act, 2002. During the search, 119 bank accounts with gross balance of Rs 465 crore including fixed deposits of Rs 66 crore of Vivo India, 2 kg gold bars, and Rs 73 lakh cash were seized.