Confiscated Xiaomi Mobile Company fund
Enforcement Director seized Rs 5551.27 crore from Chinese mobile company Xiaomi for allegedly violating Foreign Exchange Laws (FEMA.i.e. Foreign Exchange Management Act). Investigators said that money was confiscated from Xiaomi technology India’s bank account. Earlier in January, the Central Government had sent a notice to the Xiaomi alleging evasion of import duty of Rs. 653 … Read more