Karnataka HC issues notice to Centre on Xiaomi's petition
The division bench of Karnataka High Court has issued a notice to the Centre on Xiaomi's petition against the single bench order in connection with seizure of Rs 5,551.27 crore for alleged violations of the Foreign Exchange Management Act (FEMA) by the Enforcement Directorate (ED).
The Karnataka High Court had rejected the plea by the Chinese firm Xiaomi against the seizure of Rs 5,551.27 crore from its bank accounts by the Enforcement Directorate (ED) on April 21. Image Courtesy: Reuters.