Chinese businesses keep to stand the warmth in India, this time the Ministry of Corporate Affairs has ordered precise investigations over alleged monetary irregularities within the books of account of mg motors India and vivo mobiles India.
Resources have informed CNBC-tv18 that “mca’s oversight committee has ordered a sfio (severe fraud investigation workplace) probe towards vivo mobiles and has requested the regional director below dg investigations to probe mg motors India.”
The probe is over alleged financial irregularities and the Chinese investments in these groups.
In the meantime, when CNBC-tv18 approached both agencies, mg motor India stated, “mgi has no longer been approached by mca in the previous few months. We had been approached final year by using them, and we fully cooperated with the authorities concerned and provided them with all relevant facts, post which no further question changed into raised for us.”
However, Vivo India declined to comment on the tale.
This pass comes after registrars of corporations (roc) submitted the findings of its initial research over these allegations towards each vivo India and mg motor India.
Roc after its investigations had advised the Ministry of Company Affairs for an in-depth investigation as they determined enough proof of alleged irregularities, and assets brought.
