Xiaomi India has refuted reports of the company moving base out of India to Pakistan amidst a crackdown on its operations by government agencies. <\/p>\n
A report from South Asia Index said Xiaomi India has “almost halted” its operations in India after being targeted by the Indian government, adding that it may now move its operations to Pakistan after the Indian government froze its assets worth $676 millions. <\/p>\n
“The information mentioned in the tweet is completely false and baseless. Xiaomi entered India in July 2014. In less than a year of our India operations, in January 2015, we embarked on our \u201cMake in India\u201d journey. Today, 99% of smartphones and 100% of smart TVs are manufactured in India. As a respected global company, we will take all advised measures to protect our reputation from false and inaccurate claims,” a company spokesperson told ET. <\/p>\n
Xiaomi India has been under investigation by the enforcement directorate for allegedly remitting foreign exchange abroad in an unauthorised manner under the guise of royalties. <\/p>\n
An ED seizure order of the company’s bank assets to the tune of Rs 5551.27 crore was confirmed last week by the competent authority. <\/p>\n
Xiaomi India challenged the constitutionality of the confirmation order Thursday at the Karnataka High Court, seeking a stay order. <\/p>\n
However, the court refused to grant relief with a stay order asking the company to furnish bank guarantee of the seized amount to protect the state’s interests without forcing the company’s operations to come to a screeching halt.<\/p>\n","protected":false},"excerpt":{"rendered":"
Xiaomi India has refuted reports of the company moving base out of India to Pakistan amidst a crackdown on its operations by government agencies. A report from South Asia Index said Xiaomi India has “almost halted” its operations in India after being targeted by the Indian government, adding that it may now move its operations to Pakistan after the Indian government froze its assets worth $676 millions. “The information mentioned in the tweet is completely false and baseless. Xiaomi entered India in July 2014. In less than a year of our India operations, in January 2015, we embarked on our […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-799570","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=799570"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/799570\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=799570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=799570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=799570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}