Delhi High Court Grants Bail to Lava MD in Vivo Money Laundering Case

The Delhi High Court granted bail to Hari Om Rai, MD of Lava International, in a money laundering case involving Vivo. He was arrested by the Enforcement Directorate (ED) last October. The ED alleges that Vivo illegally transferred Rs 62,476 crore to China, allegations Vivo denies.

The Delhi High Court has provided bail to Hari Om Rai, Managing Director of Lava International, in a high-profile money laundering case linked to Vivo, a prominent smartphone maker. This decision, handed down by Justice Manoj Kumar Ohri, comes after Rai's arrest by the Enforcement Directorate (ED) in October last year.

Rai faced charges related to alleged economic offenses involving Vivo-India and associated individuals. He was defended by senior advocate Vikas Pahwa and lawyer Abhay Raj Varma during the proceedings.

The ED has filed a detailed chargesheet against Vivo-India under provisions of the Prevention of Money Laundering Act. The agency claims that Vivo-India transferred a staggering Rs 62,476 crore to China to evade Indian taxes. Vivo has denied these allegations, insisting on its commitment to ethical practices and legal adherence.

(With inputs from agencies.)