ED seizes Rs 5,551 crore of Xiaomi India under FEMA law - The Indian Express

Earlier this month, ED had questioned Manu Kumar Jain, Xiaomi’s global vice-president, in connection with alleged illegal remittances made by the company.

The Enforcement Directorate (ED) Saturday announced it had seized more than Rs 5,500 crore in assets from the Indian subsidiary of Chinese smartphone maker Xiaomi, saying it had made illegal remittan… [+2768 chars]

full article...