Oppo, Vivo, and Xiaomi Issued Notices for Tax Evasion, Finance Minister Nirmala Sitharaman Says

The government is looking into cases of alleged tax evasion by three mobile companies from China — Oppo, Vivo India and Xiaomi — and notices have been issued to them, Union Finance Minister Nirmala Sitharaman said on Tuesday. “The Department of Revenue Intelligence (DRI) has issued notice to Oppo, the mobile company, for a total customs duty of … Read more

Oppo, Vivo, and Xiaomi Issued Notices for Tax Evasion, Finance Minister Nirmala Sitharaman Says

The government is looking into cases of alleged tax evasion by three mobile companies from China — Oppo, Vivo India and Xiaomi — and notices have been issued to them, Union Finance Minister Nirmala Sitharaman said on Tuesday. “The Department of Revenue Intelligence (DRI) has issued notice to Oppo, the mobile company, for a total customs duty of … Read more

ED Seizes Rs. 5,551 Crore of Xiaomi India in Alleged Foreign Exchange Violation Case

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 said on Saturday. The action has been taken against Xiaomi Technology India Private Limited. The company (also called Xiaomi India) is a trader and distributor of mobile phones … Read more

ED’s Seizure of Xiaomi India Assets Worth $725 Million Said to Be Put on Hold by Indian Court

An Indian court has put on hold a federal enforcement agency’s decision to seize $725 million (roughly Rs. 5,570 crore) from local bank accounts of China’s Xiaomi for suspected violations of foreign exchange laws, two sources told Reuters on Friday. The Enforcement Directorate last week seized the bank assets of Xiaomi Technology India Private Limited, … Read more

Xiaomi Said to Accuse Enforcement Directorate of ‘Physical Violence’ Threats During Probe

Chinese smartphone maker Xiaomi has alleged its top executives faced threats of “physical violence” and coercion during questioning by India’s financial crime fighting agency, according to a court filing seen by Reuters. Officials from the Enforcement Directorate warned the company’s former India managing director, Manu Kumar Jain, current Chief Financial Officer Sameer BS Rao, and … Read more

Xiaomi’s Allegations of Coercion Baseless, Enforcement Directorate Says

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 … Read more

Beijing Urges India to Treat Chinese Firms Fairly After Xiaomi Threat Claim

China on Monday urged India to ensure Chinese companies operating in India were not discriminated against, after Xiaomi Corp said its executives there had faced threats of violence during questioning over alleged illegal remittances. Reuters reported on Saturday that Xiaomi, the biggest smartphone seller in India, had outlined the alleged threat from officials of the … Read more

Xiaomi Battles Legal Issues in India as ED, Tax Authorities Investigate Its Business Practices

Chinese smartphone giant Xiaomi faces legal headaches in India as a federal financial crime-fighting agency and tax authorities investigate its business practices. Xiaomi denies wrongdoing. But it recently hit the headlines with accusations that its executives faced intimidation from Indian enforcement officials, drawing public rebuttals from the agency and words of support from China. Here … Read more

ED Reportedly Asks Court to Re-Instate Freeze on Xiaomi’s Bank Assets Worth $725 Million

India’s financial crime fighting agency asked a court on Thursday to re-instate a freeze on $725 million (roughly Rs. 5,624 crore) in the Indian bank accounts of Xiaomi as it investigates fund transfers by the Chinese smartphone giant. The enforcement directorate had seized the money saying Xiaomi had illegally transferred funds abroad to three entities, … Read more

Xiaomi Funds Worth $478 Million Said to Be Frozen by ED During Alleged Tax Evasion Investigation

Indian tax officials froze $478 million (roughly Rs. 3,699 crore) worth of deposits lying in local bank accounts of China’s Xiaomi in February as part of an investigation into alleged tax evasion, according to two sources and a court filing reviewed by Reuters. The fund freeze by tax authorities, being reported for the first time … Read more