Lava International

Lava International restructures board, excludes former chairman Hari Om Rai

Homegrown mobile phone maker Lava International has restructured the company's board in which it has excluded former chairman and managing director Hari Om Rai, according to a company statement. Rai resigned from his position in February and does not hold any directorial position in the company. He is under judicial custody in an alleged money laundering case filed by the Enforcement Directorate. Lava has onboarded former BSNL chairman and managing director Anupam Shrivastava and former Lieutenant Governor of Andaman & Nicobar Islands and Puducherry, Ajay Kumar Singh as independent directors. "We are happy to introduce the board members who shall be at the helm of driving the company's vision and brand's growth. Their rich industry experience, strategic insights, and passion for Lava will be instrumental for achieving operational excellence and growing its market share. "The newly constituted board is a perfect blend of seasoned Lava leadership members, founders, and highly ...

Lava Prowatch ZN: Unboxing, hands-on, and first look

Worsened Sino-India relations won't mean committed offence in past: Lava MD

Arrested MD of Lava International Company Hari Om Rai told a court here Wednesday that merely because the Sino-India relations have deteriorated over the years, it would not mean that he committed an offence at a time when there were, in fact, friendly business relations between the two countries. The accused, arrested in a money laundering case against Chinese phone-maker Vivo, made the submissions through his lawyer before Special Judge Tarun Yogesh during the hearing of his bail application. The judge on Wednesday posted the matter for further hearing on December 4. Advocates Vikram Chaudhary and Nitesh Rana, appearing for the accused, told the court during the hearing of the application, that the accused has no direct or indirect control over Vivo's business. "He has not derived any monetary benefit, nor has he engaged in any transaction with Vivo or any entity allegedly related to Vivo, let alone having been associated with any alleged 'proceeds of crime'," the counsel told th

Vivo PMLA case: Court extends judicial custody of 4 accused till Nov 23

A court here on Thursday extended the judicial custody of four accused, including the managing director of Lava International mobile company and a Chinese national, till November 23 in a money laundering case against Chinese smartphone maker Vivo. Additional Sessions Judge Devender Kumar Jangala passed the order on an application moved the Enforcement Directorate. The four arrested are: Hari Om Rai, the MD of Lava International, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg and Rajan Malik. Defence advocate Nitesh Rana opposed the ED's application for extension of their judicial custody, saying it cannot be done "mechanically and automatically. There must be application of mind," Rana told the court. The anti-money laundering agency had raided the company and people linked to it in July last year and claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. The ED had then alleged a whopp

Lava Agni 2 5G review: Finally, a competitive smartphone from Indian brand

The Lava Agni 2 5G is not perfect, yet it makes a worthy option in midrange smartphone segment because the phone does not cut corners on core areas such as design, display, software, and performance

Lava Blaze 2 smartphone goes on sale on Amazon India: Unboxing, specs, more

Priced at Rs 8,999, the smartphone is offered in 6GB RAM and 128GB internal storage configuration, and glass orange and glass blue colours

Indian handset makers struggle to meet PLI targets; Apple leads the game

Lava International, Bhagwati (Micromax), and local contract manufacturer Optiemus have so far been unable to meet the targets

Lava launches Yuva 2 Pro smartphone at Rs 7999: Specifications and features

Lava Yuva 2 Pro comes pre-loaded with free subscription of Doubtnut's course material for students in classes 9th to 12th (worth up to Rs 12,000 for one year)

Lava Blaze 5G phone's 6GB RAM variant goes on sale with introductory offers

The 6GB variant of Lava Blaze 5G is available for purchase on Lava E-store and e-commerce platform Amazon India. Below are the details

Sebi returns Lava Intl's draft IPO papers; asks to refile with updates

Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates. The move might delay the company's initial public offering (IPO). Lava International had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in September 2021 to raise funds through an initial share-sale. The proposed IPO comprises fresh issuance of equity shares worth up to Rs 500 crore and an offer for sale (OFS) component of 4,37,27,603 equity shares. The OFS consists of sale of 1.25 crore equity shares by Hari Om Rai, up to 31.35 lakh shares by Shailendra Nath Rai, up to 78.38 lakh shares each by Sunil Bhalla and Vishal Sehgal, up to 1.13 crore shares by Unic Memory Technology and up to 9.75 lakh shares by Tupperware Kitchenware. The company proposes to utilise the proceeds from the fresh issue for marketing and brand building activities, funding acquisition and ot

Testing times for PLI schemes: Covid-related delays put firms in pressure

Companies have petitioned the government to double the incentive from 2.5 per cent to 5 per cent and extend the tenure

Lava launches its first 5G smartphone 'Agni' at Rs 19,999: Details here

Home-grown mobile phone company Lava International has become the first Indian brand to launch 5G smartphones for domestic consumers. The smartphone launched under the brand name 'Agni' has been developed by Lava in India and is getting manufactured at its plant in Noida, Uttar Pradesh. "The purpose of launching Agni is to give Indian consumers the choice of a made in India 5G smartphone for Indians by an Indian company. We wanted to establish before people that there can be an Indian brand which is technology oriented. "We are second in the world to launch a 5G smartphone on Mediatek Dimensity 810 chipset," Sunil Raina, President & Business Head, Lava International told PTI on the sidelines of the launch. He said that the price of Agni has been kept at Rs 19,999 which is competitive, compared to Chinese brands that dominate the Indian market at present. The Lava Agni 5G will come with a 6.78 inch full high-definition plus IPS punch hole display which is largest in its ...

PLI scheme: Lava seeks to reboot with first locally made smartphone

Wishes to cash in on geopolitical situation, hopes anti-China sentiment will work in its favour

Govt's ambitious call: Making electronics sector worth $400 bn by 2025

The first of a two-part series analyses the feasibility of goals set for electronics manufacturing

Securing the high ground

Through a new campaign, Lava International hopes to usurp the properties of reliability and trust