According to Reuters, India's Enforcement Directorate seized USD 725 million from Xiaomi when it was discovered that the smartphone maker had made illegal payments to foreign entities disguised as royalty payments. According to the directorate, Xiaomi's Indian division broke foreign exchange restrictions by sending the equivalent of INR 55.5 billion to three foreign-based firms. The directorate further added that the amount remitted to two unrelated entities in the U.S was made for the "ultimate benefit of the Xiaomi group entities" and that such huge amounts of royalties by Xiaomi's Indian division were under the instruction of their Chinese parent company. Read more in our articles including "India seizes USD 725 million worth of assets from Xiaomi" and "BPI partners with Robinsons Retail for barcode cash deposits in stores".
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Mar 19, 2026According to Reuters, India's Enforcement Directorate seized USD 725 million from Xiaomi when it was discovered that the smartphone maker had made illegal payments to foreign entities disguised as royalty payments. According to the directorate, Xiaomi's Indian division broke foreign exchange restrictions by sending the equivalent of INR 55.5 billion to three foreign-based firms.
The directorate further added that the amount remitted to two unrelated entities in the U.S was made for the "ultimate benefit of the Xiaomi group entities" and that such huge amounts of royalties by Xiaomi's Indian division were under the instruction of their Chinese parent company.
Our coverage of enforcement directorate india includes: "India seizes USD 725 million worth of assets from Xiaomi"; "BPI partners with Robinsons Retail for barcode cash deposits in stores"; "Shopee opens official Beats store in PH". Each article provides unique insights and information.