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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.
Repeatedly running afoul with Indian regulators, the Chinese smartphone maker currently has a precarious situtation in India, the market it once dominated. What went wrong?
The action has been taken against Xiaomi Technology India Private Limited which is a trader and distributor of mobile phones in the country under the brand name of MI.