ED notice to Xiaomi India, 3 banks for alleged FEMA violation of $ 5,551 cr
FEMA violation of $5,551 crore, the Enforcement Directorate issued a show-cause notice to Xiaomi Technology India, CFO Sameer Rao, its former MD Manu Jain, and 3 banks. According to the officials, the notice relates to illegal remittances made by the company totaling $5,555.27 crores.