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<\/span><\/figcaption><\/figure>New Delhi: Xiaomi India<\/a> said it will take all steps to protect its reputation and interest and is mulling the next course of action. The comment comes after the competent authority appointed under the FEMA provisions confirmed the enforcement directorate's order to seize Rs 5551.27 crore of the company's bank assets on violation of foreign exchange management act.

Calling the competent authority's decision a disappointment, Xiaomi<\/a> India on Sunday said none of the legal and factual contentions raised by the company has been addressed in a statement.

\"We will continue to use all means to protect the reputation and interests of the company and its stakeholders. We remain committed to working with various authorities to resolve the issue,\" Xiaomi India said in the statement.

The company didn’t specify what could its next steps. But legal experts say the company may again approach the Karnataka High Court to appeal against the order.

Xiaomi India, which is the market leader in India, said it does not hold any assets outside India. \"Hence, as per our understanding, the section 4 of FEMA does not even apply in this situation.\"

Xiaomi said that all royalty payments made were only related to sales done by Xiaomi India, and not for any other country or region, and were done through RBI-approved and mandated banking channels.

Xiaomi India reiterated that of the entire Rs 5551.27 crore the company paid to foreign entities, more than 84% were royalty payments made to Qualcomm group in USA, a third party US listed company.

\"Both Xiaomi and Qualcomm believe that it is a legitimate commercial arrangement for Xiaomi India to pay Qualcomm royalty,\" the company said.

This was to access in-licensed technologies including standard essential patents and intellectual properties used in its smartphones made for India.

\"Setback<\/a><\/figure>

Setback for Xiaomi in ED case as asset freeze confirmed<\/a><\/h2>

\"The Competent Authority appointed under Section 37A of the Foreign Exchange Management Act has confirmed the seizure order of Rs. 5551.27 Crore dated 29.04.2022 passed by the Directorate of Enforcement (ED) against Xiaomi Technology India Private Limited under the provisions of FEMA,\" the enforcement directorate said in a press release.<\/p><\/div>

\"\"
<\/span><\/figcaption><\/figure>New Delhi: Xiaomi India<\/a> said it will take all steps to protect its reputation and interest and is mulling the next course of action. The comment comes after the competent authority appointed under the FEMA provisions confirmed the enforcement directorate's order to seize Rs 5551.27 crore of the company's bank assets on violation of foreign exchange management act.

Calling the competent authority's decision a disappointment, Xiaomi<\/a> India on Sunday said none of the legal and factual contentions raised by the company has been addressed in a statement.

\"We will continue to use all means to protect the reputation and interests of the company and its stakeholders. We remain committed to working with various authorities to resolve the issue,\" Xiaomi India said in the statement.

The company didn’t specify what could its next steps. But legal experts say the company may again approach the Karnataka High Court to appeal against the order.

Xiaomi India, which is the market leader in India, said it does not hold any assets outside India. \"Hence, as per our understanding, the section 4 of FEMA does not even apply in this situation.\"

Xiaomi said that all royalty payments made were only related to sales done by Xiaomi India, and not for any other country or region, and were done through RBI-approved and mandated banking channels.

Xiaomi India reiterated that of the entire Rs 5551.27 crore the company paid to foreign entities, more than 84% were royalty payments made to Qualcomm group in USA, a third party US listed company.

\"Both Xiaomi and Qualcomm believe that it is a legitimate commercial arrangement for Xiaomi India to pay Qualcomm royalty,\" the company said.

This was to access in-licensed technologies including standard essential patents and intellectual properties used in its smartphones made for India.

\"Setback<\/a><\/figure>

Setback for Xiaomi in ED case as asset freeze confirmed<\/a><\/h2>

\"The Competent Authority appointed under Section 37A of the Foreign Exchange Management Act has confirmed the seizure order of Rs. 5551.27 Crore dated 29.04.2022 passed by the Directorate of Enforcement (ED) against Xiaomi Technology India Private Limited under the provisions of FEMA,\" the enforcement directorate said in a press release.<\/p><\/div>