Vivo Money Laundering Case: CA Granted Bail in Delhi

Oct 09, 2024 20:42

A Delhi court granted bail to a chartered accountant arrested in a money laundering case linked to Vivo, a Chinese mobile phone company. The ED had alleged that Rs 62,476 crore was illegally siphoned off by Vivo to China.

Photograph: Reuters

New Delhi, Oct 9 (PTI) A Delhi court on Wednesday granted bail to a chartered accountant arrested by the Enforcement Directorate (ED) in a money laundering case linked to Chinese mobile phone company Vivo.

Additional sessions judge Kiran Gupta granted bail to Rajan Malik, who was arrested in October 2023.

The judge accepted the submission of Malik's lawyer Hemant Shah, who argued that no purpose will be served by prolonging the custody of his client.

The ED had claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies.

The ED had alleged that Rs 62,476 crore was "illegally" siphoned off by Vivo to China to evade taxes in India.

Source: PTI

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Vivo Money Laundering Case: CA Granted Bail in Delhi

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