Xiaomi has responded to the physical violence claims that went up on web some time in the past. Here are all particulars.
The case of Xiaomi and the ED has been happening for some time, with the company presently below the scanner for royalty-related stuff. An earlier report by Reuters steered that Xiaomi Corp’s prime executives got threats of physical violence and coercion by the ED throughout the questioning course of. The report claimed that Reuters had accessed the small print from the court docket submitting.
Xiaomi has now give you an official assertion associated to this report. In a press be aware, the company says, “The contents of the writ petition are confidential qua public at large. There seems to be a want to create some sort of sensationalism without considering the impact that it will have on the ED, Govt of India, and the company. This matter is subjudice and under the consideration of court of law. We refuse to comment on this,” said a Xiaomi spokesperson in the statement.
“We reserve our rights in all respects and will take steps as we may be advised to safeguard our reputation,” they added.
Xiaomi in hassle with Indian Govt
Xiaomi has been below investigation since February 2022 and final week the ED seized $725 million mendacity within the company’s India financial institution accounts, saying it made unlawful remittances overseas “within the guise of royalty” funds.
Xiaomi denies any wrongdoing, saying its royalty funds had been reliable. Earlier this week, a decide heard its legal professionals and put the ED’s choice to freeze financial institution property on maintain.
This state of affairs occurs at a time when Xiaomi dominates the Indian smartphone house in a number of years in succession. The current knowledge from Counterpoint Research exhibits Xiaomi dominating the Indian smartphone market, edging out Samsung and the remainder of its competitors. The company just lately held its launch occasion the place it launched its flagship Xiaomi 12 Pro in India, taking the struggle to Apple and Samsung within the premium smartphone house.
Additionally, Xiaomi additionally introduced its first OLED TV in India in addition to marked its return to the pill house with the Xiaomi Pad 5. The OLED Vision TV is among the many extra inexpensive OLED TVs you should buy in India.