ED raids 40 locations in UP, MP, Bihar, southern states in case linked to Chinese firm
New Delhi, July 5: The Enforcement Directorate (ED) on Tuesday conducted searches at 40 locations in Uttar Pradesh, Madhya Pradesh and some southern states in connection with a case linked to a Chinese firm.
The ED conducted these searches with respect to violations of the Prevention of Money Laundering Act (PMLA).
Sources said that local units of Vivo Mobile Communications are under the radar for alleged financial improprieties as part of an investigation into other China-based firms.
Ministry of Corporate Affairs is learnt to have a special focus on potential violations including fraud.
In the case of Vivo, an inquiry was sought in April this year to detect if there were "significant irregularities in ownership and financial reporting".
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-PTC News 
