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Following an Indian order that froze Chinese smartphone maker Xiaomi Corp's assets worth $682 million, the company on Sunday said it was "disappointed" with it and would continue to protect its interests.  An Indian appellate authority on Friday had confirmed an April order by the Enforcement Directorate to seize Rs 55.51 billion, saying a probe found Xiaomi had made illegal remittances to foreign entities by passing them off as royalty payments.

The Chinese smartphone manufacturer said that all royalty payments were made through the banking channels approved by the RBI

MUMBAI (Reuters) - Chinese smartphone maker Xiaomi Corp on Sunday said it was "disappointed" with an Indian order that froze $682 million of its asset...

Chinese smart devices firm Xiaomi on Sunday said that over 84 per cent of the Rs 5,551.27 crore seized by the Enforcement Directorate was the royalty payment made to US chipset company Qualcomm.

Chinese smartphone maker Xiaomi Corp on Sunday said it was disappointed with an Indian order that froze $682 million of its assets and would continue to protect its interests.... | October 2, 2022