ED to summon Xiaomi global VP in investigation over financial irregularities

New Delhi, 12/4 : India’s federal financial-crime fighting agency has summoned a former India-region head of China’s Xiaomi Corp in an investigation of whether the company’s business practices conformed with Indian foreign exchange laws, two sources with direct knowledge told Reuters.



The Enforcement Directorate has been probing the company since at least February, and in recent weeks asked Manu Kumar Jain, Xiaomi’s former India managing director, to appear before its officers, the sources said.


Jain, now a global vice president at Xiaomi based out of Dubai, was currently in India, the sources said, though the purpose of his visit was not clear.


Asked about the probe, a Xiaomi spokesperson said the company abides by all Indian laws and was “fully compliant with all the regulations

Comments are closed.