India seizes $725 million of Xiaomi assets over illegal payments

02 May 2022
The company remitted the equivalent of INR 55.5 billion in breach of foreign exchange laws.

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  • ?
  • Anonymous
  • 8Kf
  • 02 May 2022

Should ban

    • ?
    • Anonymous
    • ut7
    • 02 May 2022

    Lol

      Anonymous, 02 May 2022I hope this is not politically-motivated. If the Chinese br... morePeople working for xiaomi in India are blue collar employees.. we want less of that and more of white collared employees to truly develop… Every developed nation has this ratio for success

        • D
        • AnonD-1033007
        • g8K
        • 02 May 2022

        Derick Abraham, 02 May 2022Consider u r working in a foreign country and sending money... moreOh... I don't even know what to say about that lol. Thanks for explanation.

          AnonD-1033007, 02 May 2022Can someone explain a bit better and shorter this to me?Consider u r working in a foreign country and sending money to ur family who are living in ur navite country.
          U r making $5000 a month but sending $900000 to ur family is illegal if it is without submitting source of money to the income tax department. U should also pay taxes.

            • P
            • Pervert 69
            • L1q
            • 02 May 2022

            I love how India let's their millionaires and politicians earn money illegally but is taking action on chinese brands. What a joke lol

              • ?
              • Anonymous
              • tZk
              • 02 May 2022

              I hope this is not politically-motivated. If the Chinese brands pull out of India due to political persecution, it would be bad news for the Indian economy. Unemployment is so high and income so low, that some university graduates even forced to work in tech support scam.

                • ?
                • Anonymous
                • tZ4
                • 02 May 2022

                So, Apple or Samsung never remit funds back to USA and South Korea? Yeah, right

                  If these allegations are true, don’t buy from corrupt companies. Same if you live in a free country, stop supporting corrupt governments just because of a party name.

                    • ?
                    • Anonymous
                    • YUU
                    • 02 May 2022

                    Lol Xiaomi India 🤣🤣 shady operation?? 🤦🏻‍♂️🤦🏻‍♂️

                      • ?
                      • Anonymous
                      • GQi
                      • 02 May 2022

                      Kudos to indian government.

                        • ?
                        • Anonymous
                        • Kxb
                        • 02 May 2022

                        YoloBS, 02 May 2022And i thought gsmarena not gonna write a story abut this . elaborate please

                          • ?
                          • Anonymous
                          • CbD
                          • 02 May 2022

                          Royalty payments... common trick used by child companies to move money from high tax countries to low tax countries. Yes in the name of royalty, i can charge 100$ royalty for a piece of plastic in power button.

                            • ?
                            • Anonymous
                            • K1C
                            • 02 May 2022

                            -never see replies-, 02 May 2022so how about the other "franchise" users? They al... moreGuess there's more reason to this..

                              And i thought gsmarena not gonna write a story abut this .

                                • ?
                                • Anonymous
                                • U{r
                                • 02 May 2022

                                "breaking news".... ohh so fast

                                  • O
                                  • Okabe
                                  • u14
                                  • 02 May 2022

                                  India is going the US and Europe way of hurting companies from the countries they are in trade war with. What a shame.

                                    so how about the other "franchise" users? They also sent big amount of royalties to other countries (US, China)

                                      • L
                                      • Lman
                                      • 7kp
                                      • 02 May 2022

                                      AnonD-1033007, 02 May 2022Can someone explain a bit better and shorter this to me?Xiaomi India illegally transferred huge amounts of money to three other parties on instructions of its Chinese parent company...

                                      That's why indian agency seized $725m of its assets for doing these illegal transactions.

                                        • K
                                        • Kev
                                        • CcS
                                        • 02 May 2022

                                        AnonD-1033007, 02 May 2022Can someone explain a bit better and shorter this to me?Xiaomi's Indian division was sending a fortune of money to someone outside the country. India's government seized it due to local laws forbidding such transactions.