Karnataka HC Reserve Orders In Xiaomi-ED Case
The Xiaomi-Enforcement Directorate case was reviewed by the Karnataka High Court (HC) single-bench judge SG Pandit, and has reserved its judgment, on June 16. Notably, the Chinese firm Xiaomi filed a case against ED, after the agency seized Rs 5,551.27 crore from its bank accounts. The mobile company is facing violation charges of the provisions of the Foreign Exchange Management Act, not allowing the seized money to use for business.