Xiaomi India Moves Karnataka High Court, Challenges The Decision To Freeze Accounts
Chinese mobile manufacturer Xiaomi has once again moved the Karnataka High Court. Xiaomi has challenged in the High Court the decision to freeze its account in India.In this matter, Xiaomi had also approached the High Court earlier, but the company's appeal was rejected by the court. Xiaomi filed a petition on 3 October. The company has challenged the FEMA order dated 29 September 2022, which confirmed the ED's 29 April order of seizure.
BaluSingh Rajpurohit 
Chinese mobile manufacturer Xiaomi has once again moved the Karnataka High Court. Xiaomi has challenged in the High Court the decision to freeze its account in India.
In this matter, Xiaomi had also approached the High Court earlier, but the company's appeal was rejected by the court. Xiaomi filed a petition on 3 October. The company has challenged the FEMA order dated 29 September 2022, which confirmed the ED's 29 April order of seizure.
Rs 5,551 crore seized from Xiaomi India
It is worth noting that recently, Rs 5,551 crore of Xiaomi has been confiscated for violating the Foreign Exchange Management Act (FEMA). It is alleged that Xiaomi transferred money under the guise of royalty to three companies outside India.
Even before this, Xiaomi had approached the High Court. The High Court then ordered it to approach the concerned officer under FEMA. A vacation bench of Justice NS Sanjay Gowda heard the matter on Thursday. Xiaomi had sought relief from the court, but during this time did not present a copy of the order.
blame on Xiaomi
It is alleged that since its entry into India in 2014, Xiaomi started sending crores of rupees outside the country in the name of royalty. Royalties were sent to three companies, including China-based parent company Xiaomi, and two US-based companies. However, the company to which the money was sent in America had nothing to do with India.
