In December 2014, a company called Grand Prospect International Communication Pvt. Ltd, Himachal Pradesh, was incorporated by three foreign nationals— Zhengshen Ou, Bin Lou and Zhang Jie. They were assisted by an Indian chartered accountant, Nitin Garg.
The company was in the business of trading mobile phones. The entity procured phones and accessories from Vivo Mobile India Pvt. Ltd and sold them to distributors in Himachal Pradesh, Jammu, Kashmir, Leh and Ladakh.
Zhengshen Ou and Zhang Jie opened bank accounts with HDFC Bank. And the plot thickened from here on.
According to a chargesheet from India's Directorate of Enforcement (ED), the body responsible for enforcing economic laws and fighting economic crime, the duo used forged identification documents and falsified addresses. One of the addresses mentioned was a government building and the house of a senior bureaucrat. They used false driving licences to apply for director identification number and open the bank accounts, the ED alleged. In fact, four foreign nationals from the company had forged driving licences.
Why did they forge the identification documents?
The plot further thickened. From the ED charge sheet, we learn that the link between Grand Prospect International Communication and Vivo Mobile India wasn't that of simple trading.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Steering clear of Trumponomics would serve other countries well
The US president-elect's policy plans will hurt more than help the US and policymakers elsewhere must recognize the risks
Welcome Elon Musk, shadow president-elect of the US
Nobody can predict what part of his inner self will show up as he takes on a new role in the government
Saudi Arabia's popular culture is changing with liberalization
Riyadh's moves to open up the kingdom have had a positive impact
India's slowdown awaits a well-crafted response
The second-quarter loss of economic pace has underlying trends that risk reinforcing its key causes. Indian policy must support private investment, employment and consumption
A right that women don't have is the right to mediocrity
It's not just Harris. Women are judged far more harshly than men for not being exceptional
Not Goa, this techie picked Da Nang for beach holidays
Harsh Vardhan has been to Vietnam thrice in two years, the latest trip was for his honeymoon
EPF users to receive interest till the date of settlement
Members of the Employees' Provident Fund Organisation (EPFO) will now earn interest till the date of settlement of their claims.
Social movements need to lead India's fight against air pollution
We must generate the social capital required for people to act collectively towards a common cause
RETHINKING SME IPOs: SEBI STEPS IN TO ADDRESS MISUSE
Sebi's effort to streamline SME IPOs is laudable but liquidity must also be a key focus area
Repatriating FCNR deposits: What NRIs need to know after becoming residents
When NRIs (non-resident Indian) change their status to resident Indian, is it possible to repatriate the funds from FCNR (foreign currency non-resident account fixed deposit (FD)) for free, without it being subject to regulations of the Liberalised Remittance Scheme (LRS)?
