Top headlines: Rs 4k-cr duty evasion by Oppo, says DRI; Mindtree Q1 net up

Chinese mobile maker Oppo India evaded customs duty worth Rs 4,389 cr: DRI

The Directorate of Revenue Intelligence (DRI) has slapped a Rs 4,389 crore show cause notice on Oppo India on July 8 for allegedly evading customs duty by wrongfully availing exemption benefits.

Oppo India, the Indian subsidiary of a Chinese firm, deals in various brands of mobile phones, including Oppo, OnePlus and Realme. Read more...

MindTree Q1 Results: Net profit rises 37% to Rs 472 cr; revenue jumps 36%

IT firm Mindtree on Wednesday reported 37% increase in consolidated net profit at Rs 472 crore for the quarter ending June 30, 2022 as against Rs 343 crore in the year-ago period.

The Bengaluru-headquartered firm's consolidated revenue from operations rose 36% to Rs 3,121 crore as compared to Rs 2,292 crore in June 2021. Read more...

Fascists trying to take over govt: Acting Lanka President Wickremesinghe

Acting President of Sri Lanka Ranil Wickremesinghe on Wednesday said there was a fascist threat to democracy in the country and vowed to restore normalcy as well as stop the destruction of state property, hours after anti-government protesters stormed his office.

In his first televised address since being appointed to the post after embattled President Gotabaya Rajapaksa fled to the Maldives, Wickremesinghe said he had ordered military commanders and the police chief to do what is necessary to restore order. Read more...

Delhi HC allows Vivo to operate accounts frozen by ED in tax evasion probe

Delhi High Court directed Chinese smartphone maker Vivo to furnish a bank guarantee worth Rs 950 crore.

The Delhi HC allowed Vivo to operate its bank accounts, which were frozen by the Enforcement Directorate (ED) in a money-laundering probe. Read more...