The Enforcement Directorate (ED) has recently issued show-cause notices to Xiaomi Technology India Pvt Ltd, as well as its officials and three banks, under the Foreign Exchange Management Act (FEMA). The alleged violation involves foreign exchange transactions exceeding Rs. 5,551.27 crore. Manu Kumar Jain, who used to be the MD of Xiaomi India, and Sameer … Continue reading "ED issues showcause notice to Xiaomi India for Rs. 5,551 crore FEMA Violation"
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