How Chinese ‘shell companies’ have been siphoning money from India. ED raids on Vivo, Oppo & Xiaomi
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- Опубліковано 31 сер 2022
- Chinese ‘shell companies’ are allegedly siphoning off money from India to China and avoiding paying tax. 2 of the largest selling mobile phone companies, Vivo and Oppo, haven’t paid any taxes in India despite selling phones worth millions of dollars. The ED claims they have been siphoning off money from India to China. What’s the story?
#vivoedraid #xiaomitaxevasion #oppo
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Sources:
India Today
Kingpin of Vivo Scam fled India: Sources; July 7, 2022
Xiaomi vs Indian government: What is happening?; May 4, 2022
Indians bought smartphones worth Rs 2,83,666 crores in 2021; January 31, 2022
Fortune India
Delhi HC unfreezes Vivo bank accounts with riders; July 13, 2022
CNNNews 18
Vivo Scam Ex-Director Fled India Bin Lou Exposed as Mastermind?
• Vivo Scam | Ex-Directo...
IDC
China’s Smartphone market grew 1.1% in 2021; January 28, 2022
The Economic Times
I am a Chinese, not a Terrorist: Huawei India CEO to Court; August 13, 2022
14 Cos ‘Linked to Vivo Get Nod to Operate Bank A/cs; August 9, 2022
Vivo refutes charges of money laundering, financial terrorism; July 29, 2022
Decide fast on Huawei CEO plea: Delhi HC to trial court ; July 28, 2022
Huawei India Chief’s conduct showed he was a flight risk: IT department; July 26, 2022
Vivo ‘laundering’ an attempt to threaten integrity, sovereignty of nation: ED; July 25, 2022
Xiaomi accuses ED of ‘physical violence’ threats during forex probe, agency calls charges baseless; May 6, 2022
Vivo tax payment: ED raids 40 Vivo locations, 465 cr seized from 119 bank accounts; May 4, 2022
Oppo FY20 net loss widened over 2 times to Rs 2,203 crore, largest since it entered India; March 3, 2021
Xiaomi India clocks lowest sales growth but swings to profit; February 7, 2021
Live Mint
The mobile phone sector has lessons for India's economy; January 20, 2022
Jaishankar meets Chinese Foreign minister Wang Yi in Bali; July 8, 2022
China responds to raids on vivo by indian government agency; July 6, 2022
Dainik Jagran
Meerut: Phir se khula Vivo Mobile company ka mukadma; July 2, 2021
Indian Express
More than 13,500 Vivo phones running on same IMEI, Meerut police files case; June 5, 2020
Bloomberg
India Probes ZTE, Vivo as More China Firms Under Scrutiny; May 30, 2022
The New Indian Express
Top Vivo executives may have fled India amid ED's money laundering probe; July 7, 2022
Live Law
Vivo vs Ed; July 13, 2022
Business Standard
Vivo India transferred Rs 62,476 crore to China to avoid paying taxes: ED; July 8, 2022
At $76.6 bn, India's military spending third highest in world: SIPRI report; April 25, 2022
Vivo India sees revenue grow over 45% to Rs 25,060 crore in FY20; March 10, 2021
Vivos mobile business surges on IPL craze; July 18, 2016
The Hindu
Vivo remitted almost 50% of turnover to China to avoid getting taxed in India; July 7, 2022
Pushing India to surpass China in mobile manufacturing: Ravi Shankar Prasad; December 14, 2020
Business World
Vivo Mobile Money Laundering Case Companies Who Operate in India Need To Follow Law of the Land Says MEA; July 7, 2022
Reuters
India says China's Oppo evaded $551 mln in import tax; July 13, 2022
India asks Xiaoi to pay $ 88 mln in import taxes it found it evaded; January 5, 2022
Financial Times
India escalates crackdown on Chinese phone makers; July 17, 2022
Hindustan Times
Oppo responds to Indian Govt accusation of tax evasion; July 15, 2022
TechRadar
Over 13,000 Vivo phones found to be using same IMEI number; Jitendra Soni; June 17, 2022
What the hell... Why doesn't the news channels have the balls to report in this way... Keep it going. . Crisp and fantastic journalism...
News channel itself running (ads)with these people's money and
They are already sold
Its already reported and on 8/28/22 and PM has announced that chinese phones below 12K shall not be sold.
Busy focusing on the change of navy flag. Right now its more important to the country. Scams aren't that interesting
Add money
Had the first govt Babu, didn't allow the registration of bodies without proper address proof, this wouldn't have happened at all ... Govt should first punish these bribe loaders..... Who are termites .. punish 50 people. . .all over India .... Automatically productivity will increase and cases like this will decrease... Thank you Bisbo ❤️
Correctly pointed, Shiva 👍
Ghanta. Its impossible for anyone to do it. Getting permission is very easy with given proper documentation. Even they go with verification they will be there itself.
I don't understand how they can establish 22 fake companies in India, what were the officials doing ? I applied for a credit card last year and got 3 verification calls and a physical visit to my home and office address. And we wish to become a super power ! 😃
One answer = you need money bhai..
same ( maybe)
@@chaoticpanda6272 f these officials
You have said it all
the most underrated channel bisbo.... legandary channel
Thanks Rashmik 🙏
Correct
Some mischief spell it "baseball Limerick"
Why media not covering this kind of topics? keep going Bisbo...
beacause, they are all well paid by chinese companies . China is real hwadache for india than any country.
bhai sponser hi vhi hain unke
That's why they say 'never believe ' Chinese. Time and again we are proved to be idiots. Alas ! We are too innocent.
Or sometimes it's tough to shake up things at an international level
We are not innocent but corrupt to the very core!
@@BisboWorld Than whats the point of being a sovereign nation?
@Bisbo : I used to verify the details given including the RC address etc. We nabbed many in DGCA during de- monitisation.
It's not innocence it's dumb
That shows how worst our Laws and bureaucracy are.
Leave Chinese companies. How about Indian companies using these same loop holes? To make no profit and evade taxes?
This is what India bureaucrats needs to sort out.
Chinese companies are just one among them.
what boils my blood is that Vivo is still sponsoring many Indian sports games like Kabbadi as if nothing happened. Is GOI not taking actions because it will threaten thousands of jobs?
Pls cool down brother. One can do nothing to it. We should look after ourselves.
Isn't this common practice everywhere? Inflated royalties(to themselves) and all that to show net losses to evade taxes? I always thought it was legal. 🙄
Something becoming common practice doesn't always mean it's legal.
Look at the TED ED video on real cost of gold. Apple does this too.
@@BisboWorld paying royalties is legal.
Also it's done by a enemy nation we must be vigilant.
Yes, but inflated is illegal.
Thanks for explaining the situation, the guy from tech altar kept blaming India the entire. Now we clap back
Yes, i noticed it. But I always suspected TechAlter guy is China sponsored
It's a free country, Tech altar can. But hope we indeed take necessary action against the companies.
@Rex T lol then why ind ED have never raid Samsung, ironically Samsung have done same kind of crime in their home country and they have been punished there, but here only Chinese companies are raid one after another because can i tell you the reason Jio aka ambani is going to launch a smartphones for that this is a operation done a ind govt to eradicate possible rivals grow up idiots
Also Bisbo is anti Chinese channel anyway, and this Video facts are also wrongs
@@srinivasp1985 He had actually worked for OPPO in past which he has mentioned quite a few times in his earlier videos.
One of the most worthwhile channels to watch! Bisbo!
Thanks a lot 🙏
The guts this guys has makes us love the channel more❤️
Hahahaha! Thanks
I love how you present your content I was able to understand a complex situation with minimal background in finance thanks Bisho!
Welcome Alex. That’s our goal and it gives us great joy when we get a come T like yours.
Public: I don't understand how these scams operate?
BISBO: VIVO , NSE , IPL saare scam samjayega re tera BISBO!!!! What a research !!
Thanks
4:20, i am more impressed that the shop guy decided to scam a police guy. Scamster or not bro you need guts for that 🤣🤣🤣
reminder that other than huawei and xiomi
literally all other major Chinese brands are linked back to just 1 parent company
BBK electronics
The channel is underrated until we are selfish - not sharing the videos after gaining two cents.😂
Let’s share it and make the channel popular, more revenue would lead to more such videos certainly!
Btw Wonderful video bisbo.
That's very well put. Thanks a lot 🙏
Thanks for sharing this authentic information
👍🙏
@1:23 ROFL 😂😂😂 heights of creativity
Lol
These companies were introduced in India to help Make in India initiative. They did give Indians jobs, but did tax fraud..
This is a matter of sovereignty.. these chinese thugs must be stopped from selling phones & all money should be recovered for which they are liable thousand of crore is no small amount.. its pathetic that our officials were sleeping but now chinese must be taught a lesson
Meanwhile most people watching this vdo on their Chinese phones. What an irony.
What a subject you have adopted today.
I am really shocked after listening and watching.
Great information shared by you.
Thanks Vinayak. Glad to be making a difference 🌹🙏
😍Glad to see ಆದಾಯ ತೆರಿಗೆ in Kannada and also feel proud of this channel as how largely it has grown wide around the world and give the most useful and accurate information about the current affairs. Thank you bisbo :)
ಲೋ ಥೋ ಎನ್ ಗುರು ? ಅದುನ್ನ ನೋಡಿ ಖುಷಿ ಪಡೋದು ಎನ್ ಇದೆ ?
Love your graphics & illustration amazing next level 👍
Thank you 🙏
Every Indian needs to see your videos
The topics you pic are wide and interesting
Thanks Nandish 🙏
very good buddy, i always watch your new videos and feel happy.
Brilliant content @Bisbo
Thanks for proving such content
Quite an underrated channel tbh.
I really hope this channel crosses 1M mark very soon.
Thanks a lot Bhavesh 🙏
Great video
Underrated channel
Subbed.
Thanks Abhijay
Why Indian govt not banning Vivo from selling more phones until they pay the taxes they evaded from India? India need to do strict actions against these Chinese thieves
Just discovered this channel loved the quality content you provide it.
Nice to have you here, Nitish 🌹
Donot give up bro! Ur content is great just be creative to reach out to maximum people! Make regional language videos if possible. U guys are best but u are yet to become great ❤️❤️
Thank you. Do check our regional language channels. We are already there in Marathi, Bangla, Tamil, Telugu and Kannada 😊
Always waiting for you to upload
This needs to be shared!
The best news channel.
Indian Babus bribed ! How the heck then do you think all these activities were facilitated ?
Fascinating as always. Love you guys
Love you back Krishna🌹
All I can do is like for such an extraordinary video ❤️
Thank you Panna 🙏🌹
Powerful.. Bisbo...
I never miss keeping a tab on your channel, as you cover every interesting topic which needs more clarity
Thanks
Inflated royalties to show net losses is common practice and absolutely legal.
Reports said that Ambani is planning to launch budget smartphones
Then these raids happened
And now reports claimed government might ban Chinese manufacturers from selling 12k smartphone
*Aap chronology samajhiye*
@@SShreyas17 Bruh ye Bisbo pehle unbiased tha.. ab inko bhi nationalism ki bhuk lagi he.
@Shivanshu New reports are that there is no plan to ban under 12k phones
@@BisboWorld I know. Certain people in authority denied it.
Let's see
thanks bisbo for the good information
Very nice explanation
Amazing insights
Amazing Video as always Bisbo✌🏻😌
Thank you 🙏🌹
We have corrupt companies in China as well. Let’s not forget that…
Funniest Bisbo video yet !! Awesome!!🤣🤣
Lol
Best case study
Good luck India always stay positive and work hard🇮🇳🇮🇳🇮🇳
Adani Ambani also evade taxes , but modi won’t question them
At least we can say that it won't be used by anybody for anti india activity
Well said bro. 💯 True
They are raiding Chinese for Geo politics.
@bisbo i had a question how were they avoiding showing profit and was this excess money being piped into vivo china's cash reserve if so how?
Bisbo the hero we don't deserve
Hehe 🙏
Buddy thnx fo passin down info in d most fun way 🏄
🙏👍
Big fan of bisbo🔥❤
I always wait for a new video from you
It’s like a stress burster
Pls make more videos
Nice to hear Esther. We are trying to increase our frequency. Hopefully sooner than later
India (lets scam the people )
China ( lets scam the scammer)
😂😂😂
In your limerick, loopholes would have so aptly rhymed with a**holes, which is what the Chinese are 🤣
Quality content 👌👌👌🇮🇳🇮🇳
Thanks 🙏
Interesting take
They are cheap, they have always had shady dealings.
And killing local competition
@@BisboWorld if local competition just tried to research and development instead of buying from China and selling in their name they would have flourished.
@@dharanidharanm9795 some didnt have the money at the time to invest in research and development u need to spend alot to reach far if u spend little u might not accomplish anything and they didnt have the cash since the smartphone market wasn't as big as it is today.
@@jamesmelwani6000 yes bro. We don't have that much money or resource even today. We can't have everything in house right. Some more developed countries still depend on certain things like mobile phones and silicon for other countries. We can also be like that. Nothing wrong in that. What matters is Chinese companies provide us value for money, quality and new technology at good prices and as a consumer we want that. Indian smartphone brands never did that and they never will.
@Bisbo Local competition was their customer only who bought from ODMs in China, slapped their logo on the back and sold it with only USP "Made by India" with no software or after sales support whatsoever
Chinese, in comparison, are incomparably better than them
Quality video 👌🏼
Thanks Raghav 🙏
If you want to stop foreigners looting India, then first eliminate Corrupt govt officers from India. If the first govt. officer had done its job loyally, then nothing would have happened.
i have no idea why big media outlets like NDTV AAJ TAK are not showing these to indian audience
When vivo sponsored IPL where the government was sleeping 😴 government officials also involved in this scam. Without the government such a big scam will not happen
I have always been loyal to the non chinese mobile brands for the same reason, glad to have taken such drastic step.
This shows the failure of indian system and authorities. I wonder how come only chinese are able to find loopholes in indian system, Or we don't know who all are exploiting indian loopholes. (Ofcourse it can't be that only chinese are smart enough to find the loopholes.)
very
nice video bisbo
Thanks 👍
Fantastic report
Thanks Krishna
Looks like there's conspiracy of silence here. In the hindsight the demands for boycotting Chinese products wasn't so jingoist at all and should be promoted in order to prevent these fraudulent Chinese companies from looting India's money.
Nice one
Love Bisbo
So no conclusion ?...GOI doing anything to get the taxes from these Chinese companies ?
Nothing concrete as of now. Cases are going on in courts.
@@BisboWorld Thanks for that update, Sir
4:55 bbk* noice video otherwise
that's why i havent bought a single chinese phone ever .
never used chinese phone in my life
Really very nice video
Thanks Ravi
Where in shein ??
The perpetrators should have had their accounts seized. I don’t understand why they allowed to operate again after they were seized. They should have been made to pay back taxes, interest on those taxes and a hefty fines before unfreezing their bank accounts and allowing to operate
People who use chiness mobiles are also responsible.
Fan of bisbo
Bisbo rocksss
Bisbonians as well 🙏
pls make a video on INS vikrant
Wish most of the Indian have banned Chinese mobiles.Think video of waqf board land grab should be made to bring awareness of illegal property .
Indian authorities slept for 6 years. Mera Bharat Mahan.
Current smartphone is my last phone by Bbk electronics, samsung or Indian businesses
Sahab logon ke liye chai laa china se aayaa 😂😂😂😂😂
😂😂
@@BisboWorld aaaaaah mann you seriously are genius guy's.
Can you please tell how much time it takes to make such videos and how many people are required..please please and what skills are required.. please i beg you
@Bisbo pls do a video on Cyrus Mistry's accident
Was our government sleeping all this years.
Same thing Nokia did to India.Even they didn't pay any taxes.
Why still Chinese p.r.c mobile phone companies are still operating in India. Why Indian Government couldn't able to ban Chinese fraud companies 🤔 😕? If Govt of India could able to ban Chinese apps Why not its mobile phones ?
Lava, Micromax, etc is also sell Chinese product they just write indian brand and order all mobile components from china. Also china mobile is needful for poor people of India. Because if china mobile leave than other brand rise price and become far away from poor people of India.
4:55 it's BBK right ?
If the central ministry in all its capacity is always praising Modi, accusing others of not praising Modi, trying to inflict internal tensions, make corruption a viable source of life style and so on and so forth, then what else could happen? No point in blaming the Chinese, because they did what they do. But what was our ministry and government doing? Are we going to give them another free pass once again and blame someone else? This is a direct result of lacklustre, clueless and incoherent governance and its high time we call a spade a spade.
❤️ Chartered accountants❤️
6:08 aka money laundering 🤣
What about loan apps
No news channel covering this... All are thives in india
I didn't understand the figure 60% market in India for Huawei. Time 7.19 mins into the video.
One of the best channel with excellent investigation.....but people will always search for an entertainment and fake news only, GOOD WORK KEEP IT UP
Thanks for effusive praise, Madhu 🙏