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.
Diese Geschichte stammt aus der June 10, 2023-Ausgabe von Business Standard.
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Diese Geschichte stammt aus der June 10, 2023-Ausgabe von Business Standard.
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