New Delhi: Xiaomi’s former India managing director, Manu Kumar Jain, was summoned by the Enforcement Directorate (ED) to appear before it in a probe linked to the firm’s business practices conformed with Indian foreign exchange laws. Jain has been asked to appear before the investigators by 11 am on Wednesday at its Delhi headquarters, ANI reported, quoting sources.
Jain, currently a global vice president at Xiaomi based out of Dubai, was currently in India, though the purpose of his visit was not clear. ED is learnt to have issued summons to Jain earlier asking him to join the investigation against the firm.The agency has reportedly started an investigation against the firm in February this year based on some specific inputs and that the former India head of China’s Xiaomi Corp, Jain, is asked to share details related to the investigation of whether the company’s business practices conformed with Indian foreign exchange laws.
ED actions indicate its widening scrutiny of the Chinese smartphone maker, whose India office was raided in December last year in a separate investigation over alleged income tax evasion. Some other Chinese smartphone markers were also raided at the time. According to reports, the ED is probing the existing business structures between Xiaomi India, its contract manufacturers and its parent entity in China, as well as various other things including fund, flows between Xiaomi India and its parent entity.
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