Manu Kumar Jain was reportedly summoned by Enforcement Directorate

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Manu Kumar Jain was reportedly summoned by Enforcement Directorate
13 Apr 2022
6 min read

News Synopsis

The China-based company, Xiaomi has once again come under the radar of the Indian authorities. Its Global Vice President and former managing director of Xiaomi India has been reportedly summoned by the Enforcement Directorate (ED). As per a report from Reuters, ED is currently investigating whether Xiaomi’s business practices conform with India’s foreign exchange laws. Two sources aware of this matter informed that Xiaomi has been under the scanner of the agency since February this year. In a statement, a spokesperson of Xiaomi said: “Xiaomi is a law-abiding and responsible company. We give paramount importance to the laws of the land. We are fully compliant with all the regulations and are confident of the same. We are cooperating with authorities with their ongoing investigation to ensure they have all the requisite information.” This is not the first time that the Chinese company has come under the investigation of Indian government agencies. Earlier, it was also investigated by the Income Tax Department, and several raids were also conducted at the company’s premises by the agency. The IT department also carried out raids on the premises of other Chinese companies, like Oppo and OnePlus.

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