Vivo India, Related Companies Raided by Enforcement Directorate in Money Laundering Investigation

The Enforcement Directorate raided 44 places across the country on Tuesday, as part of a money-laundering probe against Chinese smartphone maker Vivo and related firms. The searches have been carried out under sections of the Prevention of Money Laundering Act. The agency has also been investigating Chinese handset manufacturer Xiaomi earlier this year.Read More

Social Media Firms Object to Personal Liability of Employees Under IT Rules, Industry Study Says

A majority of social media companies are opposed to the provision under the IT Rules to hold chief compliance officers personally liable for ensuring compliance with the Act and rules. The study revealed that personal liability could lead to increased censorship of content due to concerns of employee safety. Meanwhile, the Ministry of Electronics and…

India’s Cryptocurrency Position Said to Be Vindicated Amid Global Crypto Market Downturn

India has taken a conservative position on cryptocurrency, and the government’s decision is said to be vindicated by the ongoing global cryptocurrency market meltdown. To dampen crypto trading, a one percent tax deducted at source (TDS) on crypto transactions was introduced on July 1, following a 30 percent capital gains tax on all transactions took…