Bench of Justice Yashwant Varma also asked ED advice to take instructions about Vivo’s request that challenged the freezing of his bank account.During the trial, Vivo’s advice – Siddharth Luthra and Siddharth Aggarwal – said that nine bank accounts have been frozen which have almost 250 Crore Hospital. “Today, without problems about business models, sources, where the money has the money, the source of the money has. Derived from, where is it going, Carte Blanche’s order will be my sudden death,” said the Petitioners.
On the other hand, the investigation institution believes that Vivo sent 50 percent of its total sales, namely, RS 62,476 Crore, to China.It produced almost RS 1.20 Lakh Crore in the last two years but sent almost half to avoid paying taxes, the alleged emergency room. This caused a large loss for the companies established by India, said Ed.
Advisor Ed Zoheb Hossain further said that the investigation agent was involved in searching throughout the country.”We went to 48 locations related to them (Vivo). The search was completely except one location was finished … they didn’t even work together,” Ed sent.In his request, Vivo said the order against him was contrary to the mandate part 17 of the prevention of the Money Laundering Law (PMLA), because the same thing did not require a reason to freeze, let alone the reason “reasons to believe” about why bank accounts must be frozen. This is a general order that was passed mechanically without the application of the mind, the word defense.
It is said that the total non-application of mind and arbitrariness is manifested from the fact that even the amount in question has not been quantified by the respondent and covers the order to freeze all bank accounts has been ratified, causing great difficulties and cannot be improved to the applicant to the applicant and greatly affects the business and reputation.Furthermore, saying a frozen account is used for payment of salary and legal contributions, opening a credit letter for the applicant’s operation, and for all types of expenses needed for the applicant’s daily function.
“Monthly payments around 2,826 CRORE Hospital must be made on legal contributions, salaries, rent, money for daily business operations etc. various legal authorities, but also to employees and customers,” he said.Vivo has told the court that the news circulation about ED search has slandered the image between suppliers and customers, “which leads to loss of reputation and financial, and damage that cannot be repaired in the years of good intentions developed” by him.”The freezing of bank accounts will not only prevent existing business operations/prospective applicants carried out through a bank account, but will also have a negative impact on applicant operations around the world,” he added.
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