Technology

'Misunderstandings...': Xiaomi replies on Rs 5,551 crore seize by ED

'Misunderstandings...': Xiaomi replies on Rs 5,551 crore seize by ED

Hours after the Enforcement Directorate (ED) seized Rs 5,551.27 crore of Xiaomi Technology India Private Limited lying in the bank accounts under the provisions of Foreign Exchange Management Act (FEMA) in connection with the illegal outward remittances made by the company, Xiaomi said that as a brand it is committed to India and its operations are firmly compliant with local laws and regulations.

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