Vivo and Oppo, two Chinese smartphone manufacturers, are in trouble after being charged by several government authorities of money laundering and tax evasion, respectively. However, did you know that Vivo, Oppo, Realme and OnePlus are all owned by just one secret Chinese company known as BBK Electronics.
In a money-laundering investigation last week, the Enforcement Directorate raided 48 locations of the phone manufacturer and 23 affiliated companies before freezing Vivo's 10 Indian bank accounts. On July 13, the Delhi High Court granted Vivo access to its bank accounts, but with a condition. It is required to provide a bank guarantee of Rs 950 crore and to keep Rs 250 crore in its accounts at all times.
Regarding Oppo India, the Directorate of Revenue Intelligence (DRI) has allegedly discovered over Rs 4,389 crore in customs duty evasion. The offices of Oppo India and the homes of its senior management employees were recently searched, according to a news release issued by...
Full Access
Included:
-
Access to All Articles.
-
One Plan. No Tiers.
-
No Ads.
-
Cancel anytime.
