Lava, the homegrown mobile phone brand, has named Sunil Raina as the interim managing director, effective immediately, following board approval. This decision follows the arrest of co-founder and managing director Hari Om Rai in a money laundering case investigated by the enforcement directorate.
Upon this promotion, Raina is set to become a full-time director pending approval from the board of directors on 6 November. With over two decades of experience, Raina, who has been serving as the President and Business Head of Lava for the past five years, brings a wealth of expertise in marketing, strategy, product development, communications, sales and distribution.
Raina stated, “We are in a fast-paced growth phase of our brand journey, and we see a great opportunity ahead. I’m pleased to take on this role and eager to contribute to Lava’s continued success through consistent innovation and delivering exceptional quality to our consumers.”
The arrest of Hari Om Rai is linked to an investigation into alleged money laundering by the Chinese smartphone brand Vivo. The enforcement directorate alleges that 23 companies associated with Vivo India, with Rai’s involvement, illegally funneled Rs 62,476 crore of sales proceeds to China. Rai, after a week in ED custody, was placed in judicial remand on 18 October and is scheduled to remain in custody until 9 November.
