Xiaomi Ed Seized Rs. 5551 Crore Worth Deposits Fema Xiaomi

Tech

ED Seizes Rs. 5,551 Crore Worth of Deposits of Xiaomi India Under FEMA

ByNews Polite September 30, 2022

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. The Enforcement Directorate (ED) had issued the…

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