Three Vivo India executives released on bail after court finds arrest illegal. Case involves alleged Rs 62,476 crore money laundering scheme.
Three executives of Chinese smartphone maker Vivo India, arrested on suspicion of money laundering, have been granted bail by a Delhi court. The court ruled their detention illegal due to a procedural error but imposed conditions on their release.
The executives, including interim CEO Hong Xuquan, CFO Harinder Dahiya, and consultant Hemant Munjal, were arrested by the Enforcement Directorate (ED) on December 21st. However, the trio had claimed that they were arrested on December 21 and not on December 22, as recorded by the ED.
