ED attaches Rs 5551.27 cr of Xiaomi Technology India Pvt Ltd under Foreign Exchange Management Act
Apr 30, 2022
New Delhi [India], April 30 : The Enforcement Directorate (ED) has seized Rs 5551.27 crore of Xiaomi Technology India Pvt Ltd-- a wholly-owned subsidiary of China-based Xiaomi group-- under the Foreign Exchange Management Act (FEMA) in connection with illegal remittances made by the firm in February this year, the agency said on Saturday.