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For a FEMA violation of $5,551 crore, the Enforcement Directorate issued a show-cause notice to Xiaomi Technology India, CFO Sameer Rao, its former MD Manu Jain, and 3 banks. According to the officials, the notice relates to illegal remittances made by the company totaling $5,555.27 crores.
Enforcement Directorate issues show cause notice to Xiaomi officials in Rs 5,551 crore forex violation case.
Enforcement Directorate issues show cause notice to Xiaomi officials in Rs 5,551 crore forex violation case.
The Enforcement Directorate (ED) on Friday said that the Adjudicating Authority has issued showcause notices to Xiaomi Technology India Private Limited, its officials and three banks under the relevant provision of the Foreign Exchange ...
The Adjudicating Authority has issued show-cause notices to Xiaomi Technology India Private Limited, its officials and three banks under section 16 of the Foreign Exchange Management Act on the basis of a complaint filed by the Enforcement Directorate (ED) with respect to illegal remittances made by the company to the tune of Rs.5551.27 crore, an official statement said on Friday.