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The competent authority appointed under Section 37A of the Foreign Exchange Management Act (FEMA) on September 30th confirmed the seizure order of Rs 5,551.27 crore passed against Chinese phone maker Xiaomi India Private Limited by the Enforcement Directorate (ED), an ED official said. Get more Technology News and Business News on Zee Business. ....
A U.S. federal judge on Friday temporarily blocked the Department of Defense from forcing American investors to divest holdings in Chinese smartphone maker Xiaomi Corp on the grounds the company has ties to China s military. The Defense Department, under the Trump administration in mid-January, added Xiaomi and eight other firms to a list that requires Americans to sell their interests in the firms by a deadline. The restrictions were set to go into effect next week. Xiaomi in late January filed a complaint in a Washington court seeking to be removed from the list, calling its inclusion unlawful and unconstitutional and arguing it was not controlled by the People s Liberation Army. ....
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Xiaomi Files Legal Complaint Against US Defence, Treasury Ban Xiaomi was added by the Trump administration to its list of companies with ties to China’s military. By Reuters | Updated: 30 January 2021 10:09 IST Photo Credit: Reuters Xiaomi is seeking to remove its name from the official list of companies with ties to China s military Highlights The company claimed there is no military control Xiaomi underlined substantial number its shareholders were US persons Xiaomi filed a complaint in a Washington district court on Friday against the US Defense and Treasury Departments, seeking to remove the Chinese smartphone maker from an official list of companies with ties to China s military. ....
Xiaomi put under investment ban by US govt Xiaomi put under investment ban by US govt The Donald Trump government has added Chinese phone maker Xiaomi to a new trade list. This list curbs the investment of US firms in Xiaomi. advertisement HIGHLIGHTS US govt has added Xiaomi to a new investment list. Investment in Xiaomi by US firms could seriously be impacted. The United States government has added new names to their infamous list of blacklisted companies. The Trump administration has reportedly added nine Chinese firms to the blacklist of companies with alleged links with the Chinese military. Interestingly, this list includes big names such as mobile phone maker Xiaomi. ....