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The Hindu
The Hindu
National
Special Correspondent

HC allows Xiaomi India to operate bank accounts only for day-to-day activities

ED Xiaomi India FEMA

The High Court of Karnataka has allowed Xiaomi Technology India Private Limited to operate the bank accounts, which were seized by the Enforcement Directorate (ED), only for the purpose of meeting the expenses for carrying out the day-to-day activities. 

While staying the ED’s order of seizure of the bank accounts, the court made it clear that this interim order shall not confer any right on the petitioner-company to make payment in the form of royalty or any other form to the companies located outside India.

Vacation bench of Justice Hemant Chandangoudar passed the interim order on Thursday on a petition filed the company, which is wholly owned subsidy of China-based Xiaomi group. 

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