TEXT HERE MK

ED has seized Rs.5551.27 Crore of M/s Xiaomi Technology India Private Limited

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lying in the bank accounts under the provisions of Foreign Exchange

Foreign Exchange Management Act, 1999 in connection with the illegal outward remittances made by the company.

The company has also violated the FEMA Act.

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Mi was sending money to china illegally

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Statement of ED - The money MI has been sent from India in an illegal manner, which violates the FEMA Act of India.

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Mi is sending payments to China in the name of royalty