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Xiaomi accuses top executives of facing threats of physical violence in Indian financial crime investigation


According to documents submitted by Xiaomi, the former general manager of the Indian company, Manu Kumar Jain, and the financial director of Sameer BSRao have been warned that they will have “serious consequences” if they do not give statements as the agency wants.

Following the publication of a Reuters article, the Indian financial crime agency said that Xiaomi’s accusations were false and baseless.

Xiomi has been under investigation since February, and last week the Indian agency confiscated $ 725 million from the company’s bank accounts in India on the grounds of making illegal remittances abroad on the pretext of “royalty payments”.

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On Thursday, a judge heard from Xiaomi’s lawyers, who denied any wrongdoing and suspended the Indian agency’s decision to freeze the banks’ assets. A new hearing is taking place on May 12.

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