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Xiaomi used 30% of ₹5,551 crore liable to be seized: ED, Central government to Karnataka High Court

July 14, 2023

The Centre and the ED pointed out that though the Court upheld the ED's seizure order in April, it failed to ensure that Xiaomi maintained the disputed funds in its bank accounts.

Justicem Nagaprasanna Foreign Exchange Management Act Karnataka High Court Karnataka High Court News Karnataka High Court Updates Enforcement Directorate

Source: barandbench.com

ED freezes Xiaomi Rs 5551 crore fund, amid rumours company denies it is moving office from India to Pakistan

October 7, 2022

There is something going on with Xiaomi India’s operations. The company is facing challenges as the ED has frozen its Rs 5551 crore and now it is battling rumours that it is moving its operations out of India.

Competent Authority Qualcomm Group Foreign Exchange Management Act Xiaomi India South Asia Index India Today Tech

Source: indiatoday.in

ED Order to Seize Rs 5,551 Crore From Xiaomi Upheld

October 1, 2022

The decision was 'the highest amount of seizure order in India which has been confirmed by the authority'.

New Delhi Competent Authority Xiaomi Corp Counterpoint Research Enforcement Directorate Ed Xiaomi

Source: thewire.in

ED Seizes Rs 5,551 Crore From Xiaomi India for FEMA Violation

May 1, 2022

The seizure was made in connection with a probe that was launched by the federal agency against the company into alleged "illegal remittances" sent abroad by the Chinese firm in February.

New Delhi Kumar Jain Xiaomi Technology India Private Foreign Exchange Management Act Xiaomi India Enforcement Directorate

Source: thewire.in

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