The ED believes this alleged forgery was done to launder illegally generated funds using shell or paper companies.
We have come across many shell companies being operated in India by the Chinese company.
All these are being used to launder money, said a senior ED official.
As a responsible corporate, we are committed to be fully compliant with laws.
Such huge amounts in the name of royalties were remitted on the instructions of their Chinese parent group entities.
source: www.techworm.net
