The counsel for the company argued that the seizure was unnecessary and under Section 37A of FEMA even the necessity of suspicion is not required. Even the qualification of the "authorised officer" to take action was not prescribed.
The ED in 2022 ordered the seizure of Rs 5,551.27 crore in the accounts of Xiaomi for violating FEMA rules and transferring money in the guise of royalty to three companies outside India
Xiaomi files appeal against ED's seizure of Rs 5,551.27 Cr orissapost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orissapost.com Daily Mail and Mail on Sunday newspapers.
Karnataka HC: Xiaomi files appeal against ED's seizure of Rs 5,551.27 cr business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.