Law enforcement on Friday said they had reported violations under the Foreign Exchange Authority Act to a Chinese company.
According to local sources, Xiaomi is accused of infringement of about $ 660 million, in particular, we are talking about the unauthorized transfer of this amount to a foreign account under the guise of copyright.
The Executive Authority of India has already frozen the relevant amount in the accounts of Xiaomi Technology India Private Limited. But that’s not the worst thing for the brand – according to local law, the company has to pay a fine of just over $2 billion to continue its operations in India.
Xiaomi representatives have not yet commented on the incident. For this reason, the fate of the company in India continues to be questioned.
Source: Ferra
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