Xiaomi’s Appeal for Relief Over $676 Million Asset Freeze Declined by Karnataka High Court

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),…