A Delhi court has summoned the global CEO, CFO, and CEO of VIVO India in connection with a ₹20,241 crore money laundering case. Additional Sessions Judge Kiran Gupta issued the summons on May 13, after taking cognizance of a supplementary charge sheet filed against the executives.
The court has found sufficient evidence on record to proceed against VIVO Mobile Communication CEO Shen Wei, CFO Chen Yu Fen, and VIVO Mobile India CEO Zhiyong Chen. The court alleges that these individuals played pivotal roles in creating a network of companies, managing funds, and siphoning off ₹20,241 crore in proceeds of crime outside of India. The accused will face trial under Section 3 of India's Prevention of Money Laundering Act (PMLA). They are summoned to appear before the court on August 18, 2025.
The judge has directed that summons be sent to the foreign national accused through the Ministry of Home Affairs, following established rules and regulations.
The Enforcement Directorate (ED) filed a supplementary prosecution complaint, which is equivalent to a charge sheet, asserting that further investigation revealed the involvement of these executives in the alleged offense. The ED's chargesheet claims that Shen Wei came to India in 2013 to incorporate VIVO India at the behest of VIVO China, which was the ultimate controller and beneficial owner.
In December 2023, the Enforcement Directorate (ED) arrested three VIVO-India executives, including interim CEO Hong Xuquan (also known as Terry), CFO Harinder Dahiya, and consultant Hemant Munjal, under the Prevention of Money Laundering Act (PMLA). The ED had previously arrested four other people in the case: mobile company Lava International's MD Hari Om Rai, Chinese national Guangwen (also known as Andrew Kuang), and chartered accountants Nitin Garg and Rajan Malik.
In January 2024, the Delhi High Court issued directives to the three VIVO executives who were granted bail in late December. The court instructed them not to leave the country and to report to the Enforcement Directorate every Monday and Friday until January 11.
The ED had initiated its investigation based on a First Information Report (FIR) filed by the Delhi Police in December 2022 against Grand Prospect International Communication Pvt. Ltd. (GPICPL), an associated company of VIVO-India, along with its directors, shareholders, and some professionals. The ED alleged that ₹62,476 crore was illegally transferred by VIVO-India to China to avoid paying taxes in India.
