India allows vivo to unfreeze bank accounts

India's financial crime agency said last Thursday that as part of an investigation into Vivo's alleged money laundering, it has blocked 119 bank accounts related to Vivo's India business and its affiliates, which held 4.65 billion rupees (about 390 million yuan).

vivo has sought a reversal of an Indian law enforcement agency's decision to freeze its bank accounts with a court in New Delhi, India. Vivo said the move was "unlawful" and would harm the company's business operations, court documents show.

According to Reuters, an Indian court on Wednesday freed the country's financial crime agency from freezing the bank accounts of Chinese smartphone maker Vivo and ordered vivo to provide a bank guarantee of $119 million (about 801 million yuan).

Reuters also reported that an investigation found that Chinese smartphone maker OPPO stole 43.9 billion Indian rupees (approximately 43.9 billion Indian rupees), according to a government statement issued by the Indian Revenue Intelligence Service on Wednesday. 3.718 billion yuan) tariffs.

Indian investigators found evidence that OPPO mistakenly used duty exemptions on items imported for the production of mobile phones, and that OPPO paid royalties that were not added to the transaction value of imported goods as required by Indian law, the statement said.

An OPPO spokesperson did not immediately respond to a request for comment, the report said, and the Indian government said it had sent a notice to OPPO India to impose tariffs.

The revenue intelligence unit also proposed penalties for OPPO India, its employees, and OPPO China, the Indian government statement said, without elaborating.

Chinese smartphone brands have come under increasing scrutiny from India in recent weeks after Xiaomi was also investigated for illegally sending money abroad "under the guise of royalties".

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