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The payment of royalties was nothing more than a means of sending money out of India therefore it is "blatant" violation of FEMA requirements

Xiaomi India CFO, former MD, 3 foreign banks get ED notice over FEMA ‘violation’...

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ED's action on Xiaomi India over FEMA violation The Enforcement Directorate (ED) has said that it has issued a show-cause notice to Xiaomi India, its...
ED had seized the amount from the company's account and this was upheld by the Competent Authority. Xiaomi had challenged the Competent Authority's order in the HC

Karnataka High Court rejects Chinese firm Xiaomi’s plea challenging ED

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Karnataka HC upholds seizure of Rs.5,551.27 cr from Xiaomi for FEMA violation In a major blow to Xiaomi India, Karnataka High Court has rejected the...
Xiaomi had 35,314 employees as of September 30, with more than 32,000 in mainland China

Amid Covid havoc in China, Xiaomi may lay off 15% of its workforce

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Chinese smartphone company may sack 15% of its workforce from multiple departments Chinese smartphone maker Xiaomi may lay off workers from multiple departments, as it...
Xiaomi sought an interim order on the seizure of Rs.5,551.27 crore by Indian authorities for transferring funds outside India by violating FEMA

Setback for Xiaomi: Karnataka HC asks to furnish bank guarantee to operate seized accounts

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Karnataka HC denies relief to Xiaomi on the seizure of Rs.5551.27 cr The Karnataka High Court has ordered Xiaomi to furnish a bank guarantee to...
ED had issued the order of seizure on April 29 under the FEMA and later sent it for approval of the competent authority

FEMA authority approves India’s biggest fund seizure order – Rs.5551 crore of Chinese firm...

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Big win for ED in seizure order case against Chinese firm Xiaomi In a big win for the Enforcement Directorate (ED), the competent authority under...
The allegations that the statement of the officials of Xiaomi India was taken under coercion by ED is untrue and baseless, said ED in statement

ED’s probe on Xiaomi: China calls for a fair & non-discriminatory environment for its...

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ED denies Xiaomi's 'coercion' allegation as 'untrue and baseless' Expressing displeasure, China on Monday expressed hope that India will provide a "fair, just and non-discriminatory...
Under the cover of various unrelated documentaries created amongst the group entities, the company remitted this amount in the guise of royalty abroad which constitutes a violation of FEMA

ED seizes Rs.5,551 crore of Chinese mobile phone manufacturer Xiaomi for forex violations in...

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Such huge amounts in the name of royalties? Enforcement Directorate (ED) on Saturday seized Rs.5,551.27 crore belonging to Chinese mobile phone manufacturer Xiaomi Technology India...
On receiving the intel inputs searches were conducted by the DRI at the premises of Xiaomi India. Incriminating documents were recovered in the searches

Xiaomi under scanner for evasion of customs duty of Rs.653 crores

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Xiaomi India evaded customs duty of Rs.653 crore by undervaluation of imports The Directorate of Revenue Intelligence (DRI) has said that the Chinese mobile manufacturer...
Xiaomi maintained its lead in India’s third quarter (Q3) this year, shipping 11.2 Million units for a 24% share

Chinese brand Xiaomi top smartphone brand in India market for 16 consecutive quarters

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Xiaomi continues to top Indian smartphone market Chinese smartphone brand Xiaomi successfully maintained its no.1 rank in smartphone shipments in India for 16 consecutive quarters,...
#DailyGlobalInsights #EP75 Biden's 1.9T Stimulus pkg decoded. CNOOC, Xiaomi of China blacklisted by US & more

#EP75 Biden’s 1.9T Stimulus pkg decoded. CNOOC, Xiaomi of China blacklisted by US &...

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Sree Iyer: Hello and welcome to PGurus Channel, because of the technical difficulty my face is not visible, but I think that is okay....
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