Former Xiaomi India director accused of breaching foreign exchange laws

Manu Kumar Jain, former MD of Xiaomi India, is under investigation over a possible breach of India’s foreign exchange laws as per Reuters.

The executive is currently the global VP for Xiaomi and resides in Dubai, UAE. He is in India for now but he did not respond to a request to comment on this matter. India Enforcement Directorate is looking into this matter and is closely observing the relationships between the Chinese company Xiaomi and its Indian division.

The flow of funds between the two entities is being reviewed closely, this includes all payments of royalty as well.

gsmarena 002 4 Former Xiaomi India director accused of breaching foreign exchange laws
Manu Kumar Jain

The agency requested documents from Xiaomi in February, including details on foreign funding, shareholding, funding patterns, financial statements, and key executives running the business, as per the source.

The attack on Xiaomi is yet another step that India is taking toward a Chinese company. Xiaomi India’s office in India was raided previously over allegations of income tax evasion. Other Chinese OEMs were also raided.

Also read:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Xiaomi Civi 5 Pro Certified, Snapdragon 8s Gen 4...

The Xiaomi Civi 5 Pro, which has been making headlines since December, has now received certification from...
Xiaomi Buds 5 Pro: The World’s First Wi-Fi Audio Earbuds Unveiled at MWC 2025

Xiaomi Buds 5 Pro: The World’s First Wi-Fi Audio...

Xiaomi Buds 5 Pro Launched: The world of truly wireless earbuds (TWS) just took a giant leap...
Xiaomi HyperOS 2 Global Rollout: Full Schedule & Exciting AI Features

Xiaomi HyperOS 2 Global Rollout: Full Schedule & Exciting...

Xiaomi is back with a major software update—HyperOS 2—bringing cutting-edge AI-powered features and system enhancements. Originally announced...
Xiaomi 15 Series with Leica-inspired Design Unveiled

Xiaomi 15 Series with Leica-inspired Design Unveiled

In the ever-evolving world of smartphones, Xiaomi has just dropped a game-changer. The Xiaomi 15 series has...

Xiaomi 15 Ultra vs. Galaxy S25 Ultra: The Ultimate...

Xiaomi and Samsung have unveiled their latest flagship smartphones, the Xiaomi 15 Ultra and Galaxy S25 Ultra....

LATEST NEWS

IPL 2025: SRH vs GT – Preview, Prediction, Starting XI and Where To Watch The Match LIVE

Sunrisers Hyderabad are set to take on Gujarat Titans in Match 19 of IPL 2025 at the Rajiv Gandhi International Stadium in Hyderabad on...

IPL 2025: Archer, Sandeep and RR Batters Fire to Hand PBKS First Loss

Yashasvi Jaiswal piling on the runs. Jofra Archer carrying forward the rhythm he rediscovered against Chennai Super Kings. Maheesh Theekshana and Wanindu Hasaranga finding...

ISL 2024-25 Semifinal: FC Goa vs Bengaluru FC – Preview, Prediction and Where To Watch The Match LIVE

FC Goa are set to welcome Bengaluru FC to the Jawaharlal Nehru Stadium in Goa for the second leg of their Indian Super League...

Top 5 Footballers Who Played for Both Manchester United and Manchester City

In this blog post, we’ll explore the fascinating stories of footballers who played for Manchester United and Manchester City. We’ll focus on primary keywords...

Featured