India’s financial crime-fighting agency Enforcement Directorate has raided the offices of smartphone maker Vivo, owned by China’s BBK Electronics, and its related entities, Reuters news report said.
The searches by the Enforcement Directorate are part of an investigation into suspected money laundering, local media reported. The Directorate and Vivo did not immediately respond to requests for comment.
Earlier, Enforcement Directorate launched an investigation into Xiaomi, the leading smartphone seller in India, for alleged illegal remittances abroad in the guise of royalty payments.
China-based Xiaomi has denied any wrongdoing, and alleged in court that its executives faced threats of physical violence and coercion during questioning by officials at the Directorate. The agency denied the allegations.
