Xiaomi Businesses frozen in India

Chinese smartphone maker Xiaomi Corp said it was “disappointed” with an Indian order that froze $682 million of its assets and would continue to protect its interests.

An Indian appellate authority on Friday confirmed an April order by the Enforcement Directorate, to seize Rs 55.51 billion, saying a probe found Xiaomi had made illegal remittances to foreign entities by passing them off as royalty payments.

The Chinese smart devices firm in a statement on Sunday said that over .


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