Money Laundering Case
The Delhi High Court on Wednesday granted bail to Hari Om Rai, the Managing Director of Lava International, in a money laundering case connected to the Chinese smartphone maker Vivo.
Rai, who had been in custody since his arrest by the Enforcement Directorate (ED) in October 2023, was granted relief by Justice Manoj Kumar Ohri.
Rai was arrested on charges related to money laundering in connection with a case involving Vivo-India and others.
Rai was represented by senior advocates Vikas Pahwa and Abhay Raj Varma. The ED had filed a chargesheet under the Prevention of Money Laundering Act (PMLA), accusing Vivo-India and associated parties of engaging in criminal activities that allegedly caused significant harm to India’s economic sovereignty.
The ED claims that Vivo-India illegally transferred Rs 62,476 crore to China to evade tax payments in India.
In September, a trial court had denied bail to Rai, stating there were no grounds for relief. The ED has maintained that the alleged actions of the accused enabled Vivo-India to make wrongful gains, but the company has denied the allegations.
Vivo has stated that it adheres to ethical principles and legal compliance.
The case stems from an ED investigation that began with raids on Vivo-India and individuals linked to the company in July 2022.
The agency claimed to have uncovered a significant money laundering network involving Chinese nationals and several Indian companies.
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