Lava International Says Hari Om Rai Resigns From Board and Doesn’t Hold Managing Director Role Anymore

New Delhi, May 18: Hari Om Rai, Managing Director of homegrown electronics manufacturer Lava International, has resigned from the board and does not hold any directorial position anymore, the company informed on Saturday.

In a statement to IANS, the company said that Rai resigned from Lava board in the last financial year (FY24). "Currently, he is not the Managing Director of the company and does not hold any directorial position in the company," a Lava spokesperson said. AI-Driven Sustainable Development Needs Tech Deployment Across Economic, Social Sectors: DoT.

"We kindly request you to avoid associating his name with our company in any capacity," the company spokesperson added. Rai was arrested in October last year in a money laundering case against the Chinese smartphone-maker Vivo, along with others.

He was granted three months interim bail on February 16 which expired on May 15. On Thursday, Rai was sent to judicial custody after Delhi High Court refused to extend his medical bail. The Enforcement Directorate (ED) told the court that Rai allegedly sent a ‘dummy patient’ to AIIMS to generate a fake medical report for himself, showing he had cardiac issues. Elon Musk Says Neuralink Chip Can Help Restore Full Body Control in People Suffering From Paralysis in Future.

The ED had arrested Rai along with three others, Chinese national Guangwen alias Andrew Kuang, Chartered Accountants Nitin Garg and Rajan Malik, on October 10, 2023. In December, the ED had arrested three more people, who were the top executives of Vivo India.

(The above story first appeared on LatestLY on May 18, 2024 11:39 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).