Karnataka High Court Reserves Decision On Xiaomi's Petition Challenging Seizure of ₹5551.27 Crore By Enforcement Directorate
2 years, 1 month ago

Karnataka High Court Reserves Decision On Xiaomi's Petition Challenging Seizure of ₹5551.27 Crore By Enforcement Directorate

Live Law  

The Karnataka High Court on Wednesday reserved its decision on the petition filed by Xiaomi Technology India Private Limited challenging the order passed by the Competent Authority appointed under the Foreign Exchange Management Act,1999, confirming the order issued by the Enforcement Directorate seizing Rs.5551.27 crores of the company. Further questioning the locus standi of the petitioner company in challenging the constitutional validity of Section 37A of the FEMA, it was said, "Can a foreign company challenge constitutional validity of the statue, it doesn't even have voting right. The present petition has no locus standi…" The company had approached the court challenging the constitutional validity of section 37A of FEMA Act contending it to be violative of Article 14, 20 read with Article 300A and 301 of the Constitution of India. "The interim order passed by this court on 05.05.2022 and clarified on 12.05.2022 would enure to the benefit of the petitioner, till the competent authority passes order Section 37A of FEMA," the court had said in its order dated July 5.

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History of this topic

ED issues notices to Xiaomi, 2 senior executives for FEMA 'violations' to the tune of ₹5,551 crore
1 year, 6 months ago

ED issues notices to Xiaomi, 2 senior executives for FEMA 'violations' to the tune of ₹5,551 crore

The Hindu  

The Enforcement Directorate on Friday said it had issued show cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, its chief financial officer and director Sameer B. Rao, former managing director Manu Kumar Jain and three foreign banks for alleged violations of the foreign exchange law to the tune of more than ₹5,551 crore. The adjudicating authority …

ED issues showcause notice to Xiaomi India, 3 banks for alleged FEMA violations
1 year, 6 months ago

ED issues showcause notice to Xiaomi India, 3 banks for alleged FEMA violations

Hindustan Times  

The Enforcement Directorate on Friday said it has issued showcause notices to Xiaomi Technology India Pvt Ltd, its officials and three banks under the Foreign Exchange Management Act for alleged foreign exchange violation of more than ₹5,551 crore. Notices have also been sent to CITI bank, HSBC Bank and Deutsche bank AG for violation of Section 10 and 10 of …

Karnataka High Court Rejects Xiaomi's Petition Challenging Seizure Of ₹5551.27 Crore By Enforcement Directorate, Upholds S.37A FEMA
1 year, 8 months ago

Karnataka High Court Rejects Xiaomi's Petition Challenging Seizure Of ₹5551.27 Crore By Enforcement Directorate, Upholds S.37A FEMA

Live Law  

The Karnataka High Court on Friday rejected the petition filed by Xiaomi India challenging an order passed by the Competent Authority appointed under the Foreign Exchange Management Act,1999, confirming the order issued by the Enforcement Directorate seizing Rs.5,551.27 crores of the company. The High Court observed, "Challenge to the Constitutional validity of Section 37A of the Act by the petitioner …

India smartphone market dip 27% in Q4; entry-level, sub-₹ 25,000 segment most hit
1 year, 10 months ago

India smartphone market dip 27% in Q4; entry-level, sub-₹ 25,000 segment most hit

The Hindu  

Smartphones shipments in India plunged by over 27% to 29.6 million in the October-December quarter of 2022, from 40.6 million in the year-ago period, mainly due to inflationary pressures, market research firm IDC said on Friday. IDC India, Research Manager, Client Devices, Upasana Joshi said dearth of new launches in sub-$150 smartphone segment limited its growth. According to IDC Associate …

Karnataka High Court Quashes Provisional Attachment Of Fixed Deposits Worth Rs. 3700 Crores Against Xiaomi
2 years ago

Karnataka High Court Quashes Provisional Attachment Of Fixed Deposits Worth Rs. 3700 Crores Against Xiaomi

Live Law  

The Karnataka High Court has quashed the provisional attachment of fixed deposits worth Rs. Krishna Kumar has quashed the provisional attachment of the fixed deposit subjected to various conditions.The court ordered that Xiaomi shall not be entitled to make payments from the fixed deposit accounts in the form of royalties or in any. The court ordered that Xiaomi shall not …

Xiaomi moving its India operations to Pakistan? Chinese mobile maker responds
2 years, 2 months ago

Xiaomi moving its India operations to Pakistan? Chinese mobile maker responds

Hindustan Times  

Chinese mobile manufacturer Xiaomi has rejected speculations over moving its operations from India to Pakistan after the Enforcement Directorate froze its assets worth ₹5,551.27 crore for allegedly violating Foreign Exchange Management Act guidelines. A tweet by South Asia Index while citing sources had claimed that the Chinese mobile maker may move its operations from India to Pakistan after its assets …

Karnataka High Court Declines to Stay FEMA Authority's Confirmation Order On Seizure of Xiaomi's ₹5551.27 crores
2 years, 2 months ago

Karnataka High Court Declines to Stay FEMA Authority's Confirmation Order On Seizure of Xiaomi's ₹5551.27 crores

Live Law  

The Karnataka High Court on Thursday issued notice to the Centre and others on a petition filed by Xiaomi Technology India Private Limited challenging the September 19 order, passed by the Competent Authority appointed under the Foreign Exchange Management Act,1999, confirming the order issued by the Enforcement Directorate seizing Rs.5551.27 crores, of the company.A vacation bench. The Karnataka High Court …

Xiaomi India case: FEMA authority confirms ED’s seizure order of ₹5,551.27 crore
2 years, 2 months ago

Xiaomi India case: FEMA authority confirms ED’s seizure order of ₹5,551.27 crore

The Hindu  

The competent authority appointed under the Foreign Exchange Management Act has confirmed the seizure order of ₹5,551.27 crore issued by the Enforcement Directorate against Xiaomi Technology India Private Limited on April 29. Stating that it was the highest ever seizure amount-related order confirmed till date, the ED said, “The authority, while confirming the seizure., held that the ED is right …

Xiaomi India's Challenge To Seizure Of Assets Before High Court 'Premature'; Competent Authority Under FEMA Must Decide: Karnataka HC
2 years, 5 months ago

Xiaomi India's Challenge To Seizure Of Assets Before High Court 'Premature'; Competent Authority Under FEMA Must Decide: Karnataka HC

Live Law  

The Karnataka High Court on Tuesday directed the Competent Authority appointed under the Foreign Exchange Management Act,1999 to issue a notice of hearing to M/s Xiaomi Technology India Pvt Ltd and hear the parties concerned and pass appropriate orders in regards to the challenge raised by the company on the order passed by the Enforcement Directorate, seizing Rs.5551.27 crores. Senior …

Xiaomi Global’s Alvin Tse to lead operations at India unit
2 years, 6 months ago

Xiaomi Global’s Alvin Tse to lead operations at India unit

Live Mint  

Xiaomi on Friday named Alvin Tse, a member of its founding team, as the head of its Indian business. Xiaomi Indonesia, where Tse served as a general manager since October 2019, clocked a 34% year-on-year sales growth in 2021, according to a March report by International Data Corp.. Tse also headed Xiaomi’s Poco Global between March 2018 and November 2020 …

Karnataka HC allows Xiaomi access to bank overdrafts to make payments, extends stay on ED seizure order
2 years, 7 months ago

Karnataka HC allows Xiaomi access to bank overdrafts to make payments, extends stay on ED seizure order

Firstpost  

A single-judge bench of Justice S Sunil Dutt Yadav issued the order after Xiaomi India approached the court on Thursday for clarification of its order given on 5 May The Karnataka High Court Thursday allowed smartphone manufacturer Xiaomi Technology India Pvt Ltd to seek bank overdrafts to make payments for its operation, excluding a royalty of Rs 5,500 crore to …

Xiaomi Alleges Physical Violence And Coercion, ED Calls It Baseless
2 years, 7 months ago

Xiaomi Alleges Physical Violence And Coercion, ED Calls It Baseless

News 18  

New Delhi: The Enforcement Directorate on Saturday rejected as "baseless" the allegations that the statements of Xiaomi India officials, the wholly-owned subsidiary of Chinese mobile manufacturing company Xiaomi, were recorded "under coercion", saying the charges were an afterthought. The federal agency was responding to certain news reports that said Xiaomi alleged in a recent filing before the Karnataka High Court …

Xiaomi vs Indian government: What is happening?
2 years, 7 months ago

Xiaomi vs Indian government: What is happening?

India Today  

Xiaomi India is in the news of late. ED’s investigation reveals that Xiaomi India started remitting foreign currency equivalent to Rs 5,551.27 crore since 2015 - a year after it began its India operations. According to the federal financial-crime fighting agency, Xiaomi India remitted the huge sum under the guise of royalty from three companies, one of which was a …

ED seizes ₹5.5k crore of Xiaomi India for violation of foreign exchange laws
2 years, 7 months ago

ED seizes ₹5.5k crore of Xiaomi India for violation of foreign exchange laws

Hindustan Times  

New Delhi: The Enforcement Directorate has seized ₹5,551.27 crore in bank accounts of Chinese phone maker Xiaomi in connection with its probe into alleged violation of foreign exchange laws by the company’s Indian arm. Xiaomi Technology India, which started operations in India in 2014, remitted foreign currency equivalent to ₹5,551.27 crore to three overseas entities that include one Xiaomi group …

ED seizes ₹5,551 cr. of Xiaomi Technology India under FEMA
2 years, 7 months ago

ED seizes ₹5,551 cr. of Xiaomi Technology India under FEMA

The Hindu  

The Enforcement Directorate has seized ₹5,551.27 crore of Xiaomi Technology India Private Limited under the provisions of the Foreign Exchange Management Act, in connection with the alleged illegal remittances made by the company. It sent foreign currency equivalent to ₹5,551.27 crore to three foreign–based entities, which include one Xiaomi group entity, in the guise of royalties. The amounts remitted to …

Xiaomi says all operations in India 'compliant' with laws after ED seizure
2 years, 7 months ago

Xiaomi says all operations in India 'compliant' with laws after ED seizure

Hindustan Times  

Xiaomi issued a statement on Saturday after the Enforcement Directorate seized ₹5551.27 crore of Xiaomi Technology India Pvt Ltd on charges of violating the Foreign Exchange Management Act. "The company has remitted foreign currency equivalent to ₹5,551.27 crore to three foreign-based entities which include one Xiaomi group entity, in the guise of royalty," the ED said alleging that such huge …

ED seizes Rs 5,551 crore from Chinese smartphone giant Xiaomi's India arm over forex violations
2 years, 7 months ago

ED seizes Rs 5,551 crore from Chinese smartphone giant Xiaomi's India arm over forex violations

Firstpost  

The company has remitted foreign currency equivalent to Rs 5551.27 crore to three foreign-based entities which include one Xiaomi group entity in the guise of royalty, the agency said New Delhi: The Enforcement Directorate 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 in connection …

ED seizes Rs 5,551 cr deposits of smartphone giant Xiaomi India for FEMA violation
2 years, 7 months ago

ED seizes Rs 5,551 cr deposits of smartphone giant Xiaomi India for FEMA violation

Deccan Chronicle  

New Delhi: Funds worth over Rs 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been "seized" for violating the Indian foreign exchange law, the Enforcement Directorate said on Saturday. "The company has remitted foreign currency equivalent to Rs 5,551.27 crore to three foreign based entities which include one Xiaomi group entity, in the guise of royalty," the ED …

ED Seizes Rs 5,551 Crore Deposits of Smartphone Giant Xiaomi India for FEMA Violation
2 years, 7 months ago

ED Seizes Rs 5,551 Crore Deposits of Smartphone Giant Xiaomi India for FEMA Violation

News 18  

Funds worth over Rs 5,551 crore of Chinese mobile manufacturing company Xiaomi India have been “seized" for violating the Indian foreign exchange law, the Enforcement Directorate said on Saturday. “The company has remitted foreign currency equivalent to Rs 5,551.27 crore to three foreign based entities which include one Xiaomi group entity, in the guise of royalty," the ED said. “The …

ED seizes ₹5,551 crore from Chinese smartphone giant Xiaomi's bank accounts
2 years, 7 months ago

ED seizes ₹5,551 crore from Chinese smartphone giant Xiaomi's bank accounts

Hindustan Times  

The Enforcement Directorate on Saturday said it had seized ₹5,551.27 crore belonging to Xiaomi Technology India Pvt Ltd - a 'wholly-owned subsidiary of China-based Xiaomi group' - lying under provisions of the Foreign Exchange Management Act of 1999. The probe agency said the money was in bank accounts belonging to the Chinese smartphone giant and had been seized in connection …

Enforcement Directorate To Probe Former Xiaomi Head Manu Jain: Report
2 years, 8 months ago

Enforcement Directorate To Probe Former Xiaomi Head Manu Jain: Report

News 18  

NEW DELHI: India's federal financial-crime fighting agency has summoned a former India head of China's Xiaomi Corp in an investigation of whether the company's business practices conformed with Indian foreign exchange laws, two sources with direct knowledge told Reuters. The Enforcement Directorate has been probing the company since at least February, and in recent weeks asked Manu Kumar Jain, Xiaomi's …

ED summons former India head of Xiaomi in investigation: Report
2 years, 8 months ago

ED summons former India head of Xiaomi in investigation: Report

Hindustan Times  

The Enforcement Directorate has summoned a former India head of China's Xiaomi Corp in an investigation of whether the company's business practices conformed with Indian foreign exchange laws, two sources with direct knowledge told Reuters. Asked about the probe, a Xiaomi spokesperson said the company abides by all Indian laws and was "fully compliant with all the regulations." The ED …

Xiaomi Mi 11 Ultra Discontinued In India; May Get A Successor Next Year
3 years, 1 month ago

Xiaomi Mi 11 Ultra Discontinued In India; May Get A Successor Next Year

News 18  

Xiaomi’s Mi 11 Ultra flagship smartphone is being discontinued in India as there weren’t many takers for Xiaomi’s dual screen flagship smartphone. The Mi 11 Ultra was priced at Rs 69,999 in India and came as a competitor to flagship offerings like the Samsung Galaxy S21 Ultra, OnePlus 9 Pro, and the likes. The Mi 11 Ultra was Xiaomi’s first …

Philips moves HC to restrain Xiaomi from selling phones infringing tech patent
4 years ago

Philips moves HC to restrain Xiaomi from selling phones infringing tech patent

Live Mint  

New Delhi: Koninklijke Philips NV, or Philips, has moved the Delhi High court seeking to restrain Xiaomi Inc. and its affiliates, officers or agents from manufacturing and selling certain mobile handsets. The electronic goods makers has sought restraint on manufacturing /assembling, importing, selling, offering for sale, advertising including through their and third party websites certain mobile phones and any future …

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