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Xiaomi Files Appeal Against Probe Agency's Seizure Of Rs 5,551.27 Crore
A division bench of the High Court of Karnataka on Friday heard an appeal filed by smartphone maker Xiaomi challenging a single-judge order which had upheld the Enforcement Directorate's seizure of Rs 5,551.27 crore from its bank accounts.
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Xiaomi India Officials, 3 Banks Served ED Notice for FEMA Violation
Xiaomi India CFO Sameer Rao, former MD Manu Jain and three banks are said to have received show-cause notice from the Enforcement Directorate (ED). According to an official, the ED has served show-cause notice for FEMA violation of Rs. 5,551 crore.
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Notice To Xiaomi India Official, Others Over Rs 5,551 Crore Case
A show-cause notice, issued upon the conclusion of a FEMA investigation, could lead to penalties that amount to three times the total contravention amount, once the case is settled.
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Karnataka HC Rejects Xiaomi's Petition Challenging $676 Million Asset Freeze by ED: Report
Karnataka High Court has rejected China-based Xiaomi Corp's petition challenging the seizure of $676.35 million (roughly Rs. 5,500 crore) by the Enforcement Directorate, news website Live Law reported on Friday.
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Court Rejects Xiaomi's Challenge To $676 Million Asset Freeze: Report
A court in Karnataka has rejected China-based Xiaomi Corp's petition challenging the seizure of 55.51 billion rupees ($676.35 million) by the Enforcement Directorate, news website Live Law reported today.
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Amid Legal Battle With Probe Agency, Xiaomi's Global Veep Manu Jain Resigns
The development comes amidst the ongoing legal tussle between Enforcement Directorate and Xiaomi over alleged Foreign Exchange Management Act (FEMA) violation by the company.
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Xiaomi India Dismisses Speculation on India Operations Being Moved to Pakistan as 'False and Baseless'
Xiaomi on Friday refuted a claim made by a portal that the company might shift its India operations to Pakistan after the government froze the company's assets worth $676 million (roughly Rs. 5,500 crore). The company is being probed by the Enforcement Directorate for allegedly made illegal remittances to foreign entities by passing them off as ro...
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Xiaomi's Appeal for Relief Over $676 Million Asset Freeze Declined by Karnataka High Court
An Indian court on Thursday declined to lift a freeze on Xiaomi's $676 million (nearly Rs. 5,500 crore) worth of assets, even as the Chinese smartphone group said this enforcement action had "effectively halted" its operations in its key Indian market. India's federal financial crime agency, the Enforcement Directorate (ED), froze Rs. 5,551 crore o...
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Xiaomi Feels Disappointed by ED Order to Seize Assets, Says Will Continue to Protect Reputation
Xiaomi on Sunday said it was "disappointed" with an Indian order that froze $682 million (nearly Rs. 55,800 crore) of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India's federal financial crime fighting agency, the Enforcement Directorate, to seize Rs. 5,551 crore, sayi...
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Xiaomi "Disappointed" With 5,551 Crores Seizure, Says Will "Protect Interests"
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.
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Xiaomi's 5,551 Crores Seizure, India's Biggest, Okayed By Forex Authority
India's foreign exchange authority has confirmed the seizure of Chinese phone maker Xiaomi's Rs 5,551 crore for allegedly sending money abroad, the country's top anti-money laundering body said in a statement today.
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ED Seizes Rs. 5,551 Crore Worth of Deposits of Xiaomi India Under FEMA
The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over Rs. 5,551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi, the highest amount frozen till date in India, the ED said on Friday. Xiaomi is a trader and distributor of mobile phones in the country under the brand name ...
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Oppo, Vivo, and Xiaomi Issued Notices for Tax Evasion, Finance Minister Nirmala Sitharaman Says
The Department of Revenue Intelligence (DRI) has issued notices for tax evasion to Oppo, Vivo and Xiaomi, three Chinese smartphone manufacturers, Union Finance Minister Nirmala Sitharaman said on Tuesday. Oppo, Vivo and Xiaomi have received notices as part of investigations into cases of alleged tax evasion by the three mobile companies.
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Xiaomi India Elevates Muralikrishnan B to President, 1 Month After Leadership Rejig
Xiaomi India on Friday announced it had promoted chief operating officer Muralikrishnan B as president of its India business. The company last month announced a leadership rejig, appointing Alvin Tse as General Manager for its operations in the country, following the elevation of Manu Jain to Group Vice President at Xiaomi last year. The changes in...
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Multiple Probes Into Chinese Companies Damaging Confidence of Foreign Investors, Chinese Embassy Says
Multiple probes into Chinese companies by enforcement agencies are damaging the confidence of foreign investors in India, the Chinese embassy said on Wednesday. On Tuesday, the Enforcement Directorate raided 44 locations across the country as part of a money-laundering investigation against Vivo and related firms. Earlier this year, the ED also ope...
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Xiaomi Files Appeal Against Probe Agency's Seizure Of Rs 5,551.27 Crore
A division bench of the High Court of Karnataka on Friday heard an appeal filed by smartphone maker Xiaomi challenging a single-judge order which had upheld the Enforcement Directorate's seizure of Rs 5,551.27 crore from its bank accounts.
-
Xiaomi India Officials, 3 Banks Served ED Notice for FEMA Violation
Xiaomi India CFO Sameer Rao, former MD Manu Jain and three banks are said to have received show-cause notice from the Enforcement Directorate (ED). According to an official, the ED has served show-cause notice for FEMA violation of Rs. 5,551 crore.
-
Notice To Xiaomi India Official, Others Over Rs 5,551 Crore Case
A show-cause notice, issued upon the conclusion of a FEMA investigation, could lead to penalties that amount to three times the total contravention amount, once the case is settled.
-
Karnataka HC Rejects Xiaomi's Petition Challenging $676 Million Asset Freeze by ED: Report
Karnataka High Court has rejected China-based Xiaomi Corp's petition challenging the seizure of $676.35 million (roughly Rs. 5,500 crore) by the Enforcement Directorate, news website Live Law reported on Friday.
-
Court Rejects Xiaomi's Challenge To $676 Million Asset Freeze: Report
A court in Karnataka has rejected China-based Xiaomi Corp's petition challenging the seizure of 55.51 billion rupees ($676.35 million) by the Enforcement Directorate, news website Live Law reported today.
-
Amid Legal Battle With Probe Agency, Xiaomi's Global Veep Manu Jain Resigns
The development comes amidst the ongoing legal tussle between Enforcement Directorate and Xiaomi over alleged Foreign Exchange Management Act (FEMA) violation by the company.
-
Xiaomi India Dismisses Speculation on India Operations Being Moved to Pakistan as 'False and Baseless'
Xiaomi on Friday refuted a claim made by a portal that the company might shift its India operations to Pakistan after the government froze the company's assets worth $676 million (roughly Rs. 5,500 crore). The company is being probed by the Enforcement Directorate for allegedly made illegal remittances to foreign entities by passing them off as ro...
-
Xiaomi's Appeal for Relief Over $676 Million Asset Freeze Declined by Karnataka High Court
An Indian court on Thursday declined to lift a freeze on Xiaomi's $676 million (nearly Rs. 5,500 crore) worth of assets, even as the Chinese smartphone group said this enforcement action had "effectively halted" its operations in its key Indian market. India's federal financial crime agency, the Enforcement Directorate (ED), froze Rs. 5,551 crore o...
-
Xiaomi Feels Disappointed by ED Order to Seize Assets, Says Will Continue to Protect Reputation
Xiaomi on Sunday said it was "disappointed" with an Indian order that froze $682 million (nearly Rs. 55,800 crore) of its assets and would continue to protect its interests. An Indian appellate authority on Friday confirmed an April order by India's federal financial crime fighting agency, the Enforcement Directorate, to seize Rs. 5,551 crore, sayi...
-
Xiaomi "Disappointed" With 5,551 Crores Seizure, Says Will "Protect Interests"
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.
-
Xiaomi's 5,551 Crores Seizure, India's Biggest, Okayed By Forex Authority
India's foreign exchange authority has confirmed the seizure of Chinese phone maker Xiaomi's Rs 5,551 crore for allegedly sending money abroad, the country's top anti-money laundering body said in a statement today.
-
ED Seizes Rs. 5,551 Crore Worth of Deposits of Xiaomi India Under FEMA
The competent authority under the Foreign Exchange Management Act (FEMA) has approved an order of seizure of over Rs. 5,551 crore worth of deposits of Chinese mobile phone manufacturer Xiaomi, the highest amount frozen till date in India, the ED said on Friday. Xiaomi is a trader and distributor of mobile phones in the country under the brand name ...
-
Oppo, Vivo, and Xiaomi Issued Notices for Tax Evasion, Finance Minister Nirmala Sitharaman Says
The Department of Revenue Intelligence (DRI) has issued notices for tax evasion to Oppo, Vivo and Xiaomi, three Chinese smartphone manufacturers, Union Finance Minister Nirmala Sitharaman said on Tuesday. Oppo, Vivo and Xiaomi have received notices as part of investigations into cases of alleged tax evasion by the three mobile companies.
-
Xiaomi India Elevates Muralikrishnan B to President, 1 Month After Leadership Rejig
Xiaomi India on Friday announced it had promoted chief operating officer Muralikrishnan B as president of its India business. The company last month announced a leadership rejig, appointing Alvin Tse as General Manager for its operations in the country, following the elevation of Manu Jain to Group Vice President at Xiaomi last year. The changes in...
-
Multiple Probes Into Chinese Companies Damaging Confidence of Foreign Investors, Chinese Embassy Says
Multiple probes into Chinese companies by enforcement agencies are damaging the confidence of foreign investors in India, the Chinese embassy said on Wednesday. On Tuesday, the Enforcement Directorate raided 44 locations across the country as part of a money-laundering investigation against Vivo and related firms. Earlier this year, the ED also ope...
