New Delhi [India]: The Enforcement Directorate(ED) on Monday (May 9) denied the allegations made by Xiaomi India, stating that the statements of its officials were taken under coercion as “untrue” and “baseless”.
“ED denies allegations made by Xiaomi India that statements of its officials were taken under coercion as untrue and baseless,” the probe agency said in a tweet.
ED denies allegations made by Xiaomi India that statements of its officials were taken under coercion as untrue and baseless.
— ED (@dir_ed) May 9, 2022
According to media reports, Xiaomi had said that its top executives faced threats of harassment and coercion during questioning by the ED.
ED had seized Rs 5551.27 crore of Xiaomi Technology India Pvt Ltd– a wholly-owned subsidiary of the China-based Xiaomi group– under the Foreign Exchange Management Act (FEMA) in connection with illegal remittances made by the firm in February this year.
The seized amount of Rs 5551.27 crore is lying in the bank accounts of Xiaomi Technology India Pvt Ltd, which started its operations in India in 2014 and started remitting the money in 2015.
After the ED’s crackdown, Chinese telecom firm Xiaomi said, it is committed to working closely with the government authorities to clarify any “misunderstandings”. (ANI)