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 …
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 …
