Vivo, OPPO, Xiaomi under probe for fund diversion: Report
Business
India's Serious Fraud Investigation Office (SFIO) is looking into Chinese smartphone giants Vivo, OPPO, and Xiaomi after claims they diverted approximately ₹6,000 crore.
The Ministry of Corporate Affairs called for the probe following a Registrar of Companies report.
The investigation kicked off in March 2025 and is expected to finish within a year.
Findings have also gone to India's top tax authorities
The RoC flagged concerns about both fund diversion and possible tax evasion. Their findings have also gone to India's top tax authorities for further review.
Once the SFIO wraps up its deep dive into company records and transactions, it'll hand over its findings to the government—who could then take legal action if needed.