Raid in other states including Delhi, Maharashtra
These raids were carried out in Delhi, Maharashtra and other states related to Vivo Mobile Communications and other Chinese companies. The Chinese embassy says that the raids being conducted by the Indian government also hinder the improvement of the business environment. and “undermine the confidence of companies from other countries, including Chinese companies, to invest and operate in India.”
Strictness on Chinese companies
“The core of China-India economic and trade cooperation is mutual benefit,” Chinese embassy spokesperson and counselor Wang Xiaojian said in a statement. And companies involved in activities like money laundering and tax evasion are being prosecuted continuously.
Investigation started in April
People with knowledge of the investigation development said that the local unit of Vivo Mobile Communications (Vivo Mobile Communications) is on the radar for alleged financial irregularities as part of the ongoing investigation against the China-based companies. In the case of Vivo, the investigation was started in April this year. Its main objective is to find out whether there were irregularities on the part of Vivo in reporting the financials.