The three arrested individuals include Vivo India's Chief Executive Officer (CEO) Hong Xuquan, Chief Financial Officer (CFO) Harinder Dahiya and consultant Hemant Munjal.
ED's probe unearthed that Vivo India had remitted nearly Rs 62476 crore to China, constituting almost 50% of its turnover, ostensibly to avoid taxes in India.
Enforcement Directorate (ED) said that smartphone maker Vivo "illegally" sent Rs 62,476 crore to China in order to avoid paying taxes on that money in India.
BCCI has decided to exit the partnership with Chinese mobile manufacturer Vivo as the title sponsor of IPL once and for all and instead collaborate with the Tata Group
The Board of Control for Cricket in India (BCCI) and VIVO Mobile India Pvt Ltd have suspended their partnership for the upcoming Indian Premiere League (IPL) season.
On Friday, the official handle of the Indian Premier League (IPL) tweeted that a meeting of the Governing Council had been scheduled the following week, in light of the border skirmish that led to the martyrdom of our brave soldiers.