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

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 action has been taken against Xiaomi Technology India Private Limited. The company (also called Xiaomi India) is a trader and distributor of mobile […]