Ministry of External Affairs says companies operating in India have to follow the law of the land.
Vivo India’s nearly 23 associated firms such as Grand Prospect International Communication Pvt Ltd (GPICPL) transferred huge amounts to the firm and out of the total sale proceeds of Rs 1,25,185 crores, it remitted Rs 62,476 crores, almost 50 per cent of the turnover out of India, mainly to China, the Enforcement Directorate said on Thursday.
In another development, the Ministry of External Affairs (MEA) stressed that companies who operate in India should follow the law of the land regarding the ongoing investigation related to Vivo Mobile Communications and some other Chinese firms. The MEA official spokesperson, Arindam Bagchi said, “Companies who operate here need to follow the law of the land. Our legal authorities are taking steps as per law of the land. I don’t see the case to make comments as such on it.”
Narrating the detail of the financial bungling of the Chinese company Vivo, the ED said in a statement that the irregularities took place through a number of associate entities. “These companies are found to have transferred huge amounts of funds to Vivo India. Further, out of the total sale proceeds of Rs 1,25,185 crores, Vivo India remitted Rs 62,476 crores almost 50 per cent of the turnover out of India, mainly to China.”
“These remittances were made in order to disclose huge losses in Indian incorporated companies to avoid payment of taxes in India.”
The ED revealed the information after it carried out searches at 48 locations spanning across the country belonging to Vivo Mobiles India Private Limited and its 23 associated companies such as GPICPL.
It further said GPICPL was registered on December 3, 2014 at Registrar of Companies, Shimla, with registered addresses of Solan in Himachal Pradesh and Gandhi Nagar, Jammu. The company was incorporated by Zhengshen Ou, Bin Lou and Zhang Jie with the help of Nitin Garg, a Chartered Accountant.
“Bin Lou left India on April 26, 2018. Zhengshen Ou and Zhang Jie left India in 2021,” ED said.
PMLA Investigation by ED was initiated by recording an Enforcement Case Information Report (ECIR) on February 3 this year on the basis of a First Information Report (FIR) registered by Kalkaji police station under Delhi Police on December 5 last year against GPICPL and its Director, shareholders and certifying professionals on the basis of a complaint filed by Ministry of Corporate Affairs.
As per the FIR, GPICPL and its shareholders had used forged identification documents and falsified addresses at the time of incorporation. The allegations were found to be true as the investigation revealed that the addresses mentioned by the directors of GPICPL did not belong to them, but in fact, it was a government building and the house of a senior bureaucrat.
ED’s investigation revealed that the same director of GPICPL, namely Bin Lou, was also an ex-director of Vivo. He had incorporated multiple companies across the country spread across various states, a total of 18 companies around the same time, just after the incorporation of Vivo in 2014-15 and further another Chinese national Zhixin Wei had incorporated further four companies.
During raids, the ED said, due procedures as per law were followed at each premise but “the employees of Vivo India, including some Chinese nationals, did not cooperate with the search proceedings and had tried to abscond, remove and hide digital devices which were retrieved by the search teams”. So far, the ED said, 119 bank accounts of various entities with a gross balance to the tune of Rs 465 crores including fixed deposits to the tune of Rs 66 crores of Vivo India, 2 kg gold bars, and cash amount to the tune of approximately Rs 73 lakhs have been seized under the provisions of PMLA, 2002.
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India observes Partion Horrors Remembrance Day, recollects the agony
Prime Minister Narendra Modi paid tribute to those who lost their lives in the communal riots that occurred during the country’s partition as India observed Partition Horrors Remembrance Day. He also praised the resilience and tenacity displayed by individuals who were affected by the partition.
The PM tweeted, “Today, on #PartitionHorrorsRemembranceDay, I pay homage to all those who lost their lives during Partition , and applaud the resilience as well as grit of all those who suffered during that tragic period of our history.”
In his Independence Day speech from the previous year, Prime Minister Modi proclaimed that August 14 would be remembered as “Partition Horrors Remembrance Day.”
Himanta Biswa Sarma, the chief minister of Assam, also spoke of the agony that occurred during the partition because Pakistan’s creation led to the displacement of hundreds of thousands of people. Sarma referred to the partition as one of the “darkest events in Indian history” and claimed that it had delivered a severe blow to “Akhand Bharat,” or undivided India.
Taking to the microblogging site, he wrote, “One of the darkest moments in Indian history, Partition wreaked havoc upon millions of countrymen & dealt mighty blow to Akhand Bharat. On #PartitionHorrorsRemembranceDay, I recall the sufferings of people resulting from evil machinations of British Raj & newly-formed Pakistan.”
Yogi Adityanath, the chief minister of Uttar Pradesh, also paid tribute to those who died as a result of the partition and sent his sorrow to their families.
“Lakhs of innocent civilians lost their lives and crores of citizens suffered inhuman suffering during the sad Partition of India due to the destructive religious mindset,” he tweeted.
PM Modi leads homage to Jhunjhunwala
Rakesh Jhunjhunwala received homage from all corners of the nation, led by Prime Minister Narendra Modi. The billionaire investor passed away at age 62 in Mumbai.
PM Modi said, “Rakesh Jhunjhunwala was indomitable. Full of life, witty and insightful, he leaves behind an indelible contribution to the financial world.”
Taking to Twitter, the PM said, “He was also very passionate about India’s progress. His passing away is saddening. My condolences to his family and admirers. Om Shanti. (sic).”
Shiv Sena MP Priyanka Chaturvedi was one of many leaders who tweeted condolences to the veteran MP. “Saddened to hear about Shri Rakesh Jhunjhunwala’s demise, just days after he established his low-cost airline, Akasa Airline.”
She wrote, “He was not just bullish about the stock market but also about the nation. My heartfelt condolences to his family, friends, and colleagues.”
Rakesh Jhunjhunwala passes away at 62
Rakesh Jhunjhunwala, ace business investor, passed away at the age of 62. He was often referred to as ‘The Big Bull of Dalal Street’ for his unique investing pattern. His distinctive approach made him count amongst the top business investors in India.
Jhunjhunwala was an active investor in addition to serving on the boards of directors of Prime Focus Limited, Geojit Financial Services, Bilcare Limited, Praj Industries Limited, Provogue India Limited, Concord Biotech Limited, Innovasynth Technologies Limited, Mid Day Multimedia Limited, Nagarjuna Construction Company Limited, Viceroy Hotels Limited, and Tops Security Limited. He was also the chairman of Aptech Limited and Hungama Digital Media Entertainment Pvt. Ltd.
Jhunjhunwala, who was born on July 5, 1960, was raised in Bombay by Rajasthani parents while his father served as an income tax commissioner. After completing his studies at Sydenham College, he applied to the Institute of Chartered Accountants of India.
He was the 36th richest Indian with a net worth of $5.5 billion and also had the title of Warren Buffet of India. Jhunjhunwala was listed among the top 500 wealthiest billionaires in Forbes’ Real-time Billionaires Index.
What is the logic of Coupon Code Sites?
Coupons, which include discount prices and special offers offered to customers by companies and encourage consumers to buy, are now offered by both physical and online shopping addresses.
In the past, coupon codes were written on papers prepared by companies for customers. In the modern world, with more and more people visiting online shopping addresses, companies have started to offer promo codes online to sell their products.
One of the most important advantages of having a discount coupon is that you can buy one product at an advantageous price and the other product completely free or half price. You can also shop at any other time convenient for you by using coupon codes. Some discount coupons can take weeks or even months to expire. This will give a customer enough time to follow up on the best discount deals, or will come back to buy that item when he has enough money.
With all these advantages, discount coupons are becoming increasingly popular on forum pages and social media platforms. There are a wide variety of online platforms where you can find discount coupons that come with a wide variety of deals such as discounts for one product, discounts on multiple purchases, free shipping. If you want to find the advantageous prices and coupon codes offered by companies from many different sectors in a single address, we have suggestions for you!
If you want to view the discount opportunities of hundreds of different companies from many different sectors you can think of, including clothing, technology, decoration, books, games, travel and online shopping stores, on a single platform, you can find the opportunities you are looking for on Couppo.com.
With its easy and understandable design, you can easily view the discount opportunity offered to you by clicking the “show code” or “get deal” links written under the companies listed on the homepage. Since the discount campaign prepared by each company may differ, you should open the company you want to shop on a separate page and learn the terms and details of the campaign.
After you get the discount code, you can get a discount on the cart amount by adding this code to the “enter coupon code” section on the order completion page while shopping at that brand’s online store.
White House condemns attack on Salman Rushdie; calls it ‘reprehensible’
The White House on Saturday called the attack on Salman Rushdie “reprehensible”. President Joe Biden and Vice President Kamala Harris wished the renowned author a speedy recovery.
In his statement, US National Security Adviser Jake Sullivan said, “Today, the nation and the globe witnessed a heinous act against the author Salman Rushdie. This violent act is abhorrent. The Biden-Harris Administration as a whole is hoping for a quick recovery for him.”
Meanwhile, Sullivan went on to say that “We are grateful to law enforcement for its prompt and effective work, which is ongoing, and to good citizens and first responders for aiding Mr. Rushdie so quickly after the incident.”
Earlier, New York State Police identified the suspect as Hadi Matar. Matar hail from Fairview, New Jersey, and is 24 years old.
“The suspect has been identified as Hadi Matar, 24, from Fairview, New Jersey. Earlier today, approx at 10:47 am, the speaker Rushdie, 75, and Henry Reese, 73 has just arrived at the stage of the institution and shortly thereafter the suspect jumped out of the stage and attacked at least once in the neck and at least once in the abdomen,” Major Eugene J. Staniszewski said.
Known for his free speech, Salman Rushdie received death threats for his book ‘The Satanic Verses. The book was released in 1988 and after 30 years of a fatwa, Rushdie was attacked. Rushdie was stabbed in the neck when he was on stage at the Chautauqua Institution. Rushdie is of Indian origin and is currently a citizen of Britain.
However, the Chautauqua Institution is a non-profit community on Lake Chautauqua in southwestern New York province.
J&K government sacked four government employees, has relations with terrorists
The Jammu and Kashmir government, using Article 311 of the Indian Constitution, has sacked four employees. The employees who have been sacked have links with terrorists and terrorist organizations.
The who have been sacked are Assbah Arzoomand Khan, Muhit Ahmed Bhat, Majeed Hussain Qadri, and Saeed Abdul Mueed.
Meanwhile, Assbah Arzoomand Khan is an officer of the Jammu and Kashmir Administrative Service. Khan joined the service in the year 2011 and is the wife of terrorist Farooq Ahmed Dar also known as Bitta Karate. Bitta Karate is counted among the big terrorists of the Jammu and Kashmir Liberation Front.
Muhit Ahmed Bhat is a scientist at the University of Kashmir. He is accused of organizing programs in the university in support of Pakistan and terrorists and mobilizing students for terrorism.
Majid Hussain Qadri is an Assistant Professor at the University of Kashmir. He is accused of being associated with the terrorist organization Lashkar-e-Taiba.
Syed Abdul Mueed was posted as IT Manager at Jammu and Kashmir Entrepreneurship Development Institute. He is the son of Hizbul Mujahideen chief Syed Salahuddin. This is the third son of the Hizbul chief, who has been dismissed from service by the government on terrorism charges. Before this, two of his sons have been removed from service.
However, Article 311 of the constitution empowers the government to dismiss an employee without assigning any reason. After Manoj Sinha became the Lieutenant Governor of Jammu and Kashmir, till now more than 40 employees have been sacked considering it a threat to the security of the country.
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