Xiaomi India paid Rs 4,663 cr to Qualcomm as royalty remittance, Telecom Information, ET Telecom

New Delhi: After the Enforcement Directorate (ED) seized almost Rs 5,551.3 crore from Xiaomi India beneath Overseas Change Administration Act (FEMA) for unlawful remittances to overseas entities, dependable sources stated on Monday that about 84 per cent of the seized royalty remittances have been made to US-based chip maker Qualcomm Group. Sources near the event … Read more

EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged unlawful remittance by Xiaomi India had been to the Qualcomm Group

The Enforcement Directorate (ED) just lately ordered the seizure of ₹5,551.27 crore from Xiaomi India. The seizure was ordered below FEMA for unlawful remittances to international entities. The Karnataka Excessive Court docket in an interim order has put a keep on the seizure. An insider has now solely knowledgeable Enterprise Insider India that 84% of … Read more

Xiaomi India paid Rs 4,663 crore to Qualcomm as royalty remittance

After the Enforcement Directorate (ED) seized practically Rs 5,551.3 crore from Xiaomi India underneath Overseas Change Administration Act (FEMA) for unlawful remittances to international entities, dependable sources stated on Monday that about 84 per cent of the seized royalty remittances have been made to US-based chip maker Qualcomm Group. Sources near the event advised IANS … Read more