Rai had resigned from the Lava board in the last financial year (FY24), the company said in a statement to IANS.
A Lava spokesperson said, "At present, he is not the managing director of the company and holds no directorship in the company."
"We request you to avoid associating his name with our company," a company spokesperson said.
Rai was arrested in October last year in a money laundering case against Chinese smartphone maker Vivo and others.
He was granted interim bail of three months on 16 February which expired on 15 May.
Rai was sent to judicial custody on Thursday after the Delhi High Court refused to extend his medical bail.
The Enforcement Directorate (ED) told the court that Rai had allegedly sent a 'foolish patient' to AIIMS to prepare a fake medical report for him, showing that he had heart problems.
The ED had arrested Rai on October 10, 2023, along with three others, Chinese national Guangwen alias Andrew Kuang, chartered accountant Nitin Garg and Rajan Malik.
In December, ED had arrested three more people, who were top officials of Vivo India.
A Lava spokesperson said, "At present, he is not the managing director of the company and holds no directorship in the company."
"We request you to avoid associating his name with our company," a company spokesperson said.
Rai was arrested in October last year in a money laundering case against Chinese smartphone maker Vivo and others.
He was granted interim bail of three months on 16 February which expired on 15 May.
Rai was sent to judicial custody on Thursday after the Delhi High Court refused to extend his medical bail.
The Enforcement Directorate (ED) told the court that Rai had allegedly sent a 'foolish patient' to AIIMS to prepare a fake medical report for him, showing that he had heart problems.
The ED had arrested Rai on October 10, 2023, along with three others, Chinese national Guangwen alias Andrew Kuang, chartered accountant Nitin Garg and Rajan Malik.
In December, ED had arrested three more people, who were top officials of Vivo India.
