The Enforcement Directorate (ED) has summoned former Xiaomi India Managing Director Manu Kumar Jain to appear. According to the report, Jain is to appear before the ED at 11 am. The ED had earlier issued summons to him and asked him to appear. Explain that the ED wants to ensure whether the business of the company is in accordance with Indian laws or not.
It is worth mentioning that Xiaomi is doing business in India under foreign exchange laws and in this regard the ED had started an investigation in February. Under this investigation, summons has been issued to former MD Manu Kumar Jain for questioning. Quoting sources, the report said that Jain, the former India chief of China’s Xiaomi Corp, has been asked to share details related to the investigation into whether the company’s business is in compliance with Indian foreign exchange laws.
Sources said Manu Kumar Jain is currently the Global Vice President of Xiaomi based in Dubai. The ED had raided the Indian office of Chinese smartphone maker Xiaomi in December last year in a separate investigation in connection with alleged income tax evasion. Xiaomi is one of the largest smartphone vendors in India and the firm was reportedly on top of selling smartphones in India in 2021.