The Centre and the ED pointed out that though the Court upheld the ED's seizure order in April, it failed to ensure that Xiaomi maintained the disputed funds in its bank accounts.
The Karnataka High Court on Wednesday reserved its verdict on a plea by Chinese technology company Xiaomi challenging an order of the Enforcement Directorate (ED) seizing seizing ₹5,551.27 crore from its bank accounts.
The Karnataka High Court on Monday extended its earlier interim stay on the order of the Enforcement Directorate (ED) seizing ₹5,551.27 crore from the bank accounts of Xiaomi India.