The competent authority appointed under the Foreign Exchange Management Act (FEMA) has slapped show-cause notices on Xiaomi Technology India, its senior officials, and three foreign banks for alleged violations of forex rules.
The move follows the authority confirming a seizure order of ₹5,551.27 crore, passed by the Enforcement Directorate (ED) against the Chinese phone maker in April last year under FEMA provisions, alleging that the company had been remitting money illegally to foreign entities under the guise of royalties.
هذه القصة مأخوذة من طبعة June 10, 2023 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة June 10, 2023 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 8500 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
'It'll be a vote for politics of performance'
Donning traditional dhoti-punjabi to counter Chief Minister Naveen Patnaik's lungi-clad video message, which the Bharatiya Janata Party (BJP) claims is not Odia culture, Union Minister for Education and Skill Development & Entrepreneurship DHARMENDRA PRADHAN says this election is all about fighting for Odia Ashmita (pride).
Shehzada insulted maharajas, silent on nawabs: Modi
Cong says PM twists every statement by Rahul Gandhi
Among national parties, BSP's candidate owns fewest assets
Baluswamy owns less than an average Indian household
Anantnag-Rajouri an uphill challenge after delimitation
In 2019, at 125,465, the Anantnag Lok Sabha constituency had the third lowest number of total electors after Lakshadweep and Daman & Diu.
Fertility rates linked to education, wealth
Income levels and the number of years a person spends in school are inversely related to the size of families they decide to raise.
'Will have 50K fully trained to leverage GenAl by FY25'
Among the large IT players, HCLTech's fourth quarter performance in FY24 has been industry leading. The firm's revenue guidance of 3-5 per cent growth for FY25, though soft compared to its FY24 figure, is still strong against Infosys' 1-3 per cent. C VIJAYAKUMAR, chief executive officer (CEO) and managing director (MD), HCLTech, in a video interview with Shivani Shinde and Ashutosh Mishra, says that its challenger position is working in favour of the firm. Edited excerpts:
CII tells startups to keep valuations 'realistic'
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation \"realistic\" and distinguish between the goals of the organisation and its founder.
Apollo lines up ₹3,000 cr capex after Advent deal
Hospital chain will spend ₹890 cr of ₹2,475 crore deal for expansion
RCap lenders put Hinduja Group arm on deadline
Concerned over slow progress, the lenders to debtridden Reliance Capital (RCap) have asked the Hinduja Group outfit IndusInd International Holdings Ltd (IIHL), to expedite the process of obtaining necessary regulatory approvals and stick to the resolution plan deadline of May 27.
AdaniConneX raises ₹11,520 cr for data centres
AdaniConneX, a joint venture equally owned by Adani Enterprises and EdgeConneX of the US, has raised up to $1.44 billion (11,520 crore) for funding its upcoming green data centres, the company announced on Sunday.