India News | ED Denies Xiaomi's Allegations of Coercion as 'untrue', 'baseless'
Get latest articles and stories on India at LatestLY. The Enforcement Directorate(ED) on Monday denied the allegations made by Xiaomi India stating that the statements of its officials were taken under coercion as untrue and baseless.
New Delhi [India], May 9 (ANI): The Enforcement Directorate(ED) on Monday denied the allegations made by Xiaomi India stating that the statements of its officials were taken under coercion as "untrue" and "baseless".
"ED denies allegations made by Xiaomi India that statements of its officials were taken under coercion as untrue and baseless," the probe agency said in a tweet.
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According to media reports, Xiaomi had said that its top executives faced threats of harassment and coercion during questioning by the ED.
ED had seized Rs 5551.27 crore of Xiaomi Technology India Pvt Ltd-- a wholly-owned subsidiary of the China-based Xiaomi group-- under the Foreign Exchange Management Act (FEMA) in connection with illegal remittances made by the firm in February this year.
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The seized amount of Rs 5551.27 crore is lying in the bank accounts of Xiaomi Technology India Pvt Ltd, which started its operations in India in 2014 and started remitting the money in 2015.
After the ED's crackdown, Chinese telecom firm Xiaomi said it is committed to working closely with the government authorities to clarify any "misunderstandings". (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)