Stay updated with breaking news from Ed Xiaomi. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
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.
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.
The decision was 'the highest amount of seizure order in India which has been confirmed by the authority'.
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.