Wednesday, July 17, 2024



ED issues show-cause notices to Xiaomi and three banks over FEMA violation in illegal remittances

EF has issued show-cause notices to Xiaomi Technology India Private Limited, its officials and three banks under section 16 of the Foreign Exchange Management Act

FEMA competent authority approves India’s biggest seizure of ₹5,551.27 crore by ED from Xiaomi

ED on Friday informed that the competent authority has confirmed the seizure order of ₹5551.27 Crore passed against Xiaomi

ED seizes Rs 5,551 crore of Chinese smartphone giant Xiaomi India under FEMA for alleged forex violations

ED, which initiated the investigation in connection with illegal remittances made by the company in February, seized the amount from the company's bank account.

Raids by DRI find that Indian subsidiary of Chinese phone maker Xiaomi evaded Rs 653 crore in customs duty, notices served for recovery

Xiaomi India evaded customs duty by not including the royalty and license fee paid to Qualcomm and parent company in assessable value

Chinese smartphone makers Oppo and Xiaomi might face fines up to Rs 1,000 crore for violating law: IT Dept reveals after raids

The IT dept announced today that Chinese mobile makers Xiaomi and Oppo had not complied with the regulatory mandate prescribed under the Income-tax Act, 1961

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