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Friday, May 20, 2022

Xiaomi’s allegations of coercion baseless, afterthought: ED

The Enforcement Directorate on Saturday rejected as “baseless” the allegations that the statements of Xiaomi India officers, the wholly-owned subsidiary of Chinese cellular manufacturing firm Xiaomi, had been recorded “under coercion”, saying the fees had been an afterthought.

The federal company was responding to sure information stories that stated Xiaomi alleged in a latest submitting earlier than the Karnataka High Court that its high executives had been threatened with “physical violence and coercion” throughout their questioning by ED investigators in Bengaluru.

The Enforcement Directorate (ED) issued an announcement saying it was “a professional agency with strong work ethics and there was no coercion or threat to the officers of the company at any point of time”.

Also, learn: Xiaomi accuses ED of ‘physical violence’ threats throughout probe: Report

“The allegations that the statement of the officials of Xiaomi India was taken under coercion by ED is untrue and baseless.”

“The officials of Xiaomi India deposed their statements before ED under FEMA voluntarily in the most conducive environment on various occasions,” the company stated.

It stated the statements had been deposed by them on the premise of paperwork and data offered by the corporate through the course of investigation.

“Their statements corroborate with the written replies submitted to ED and the material on record,” the company stated.

The growth comes within the backdrop of ED passing an order on April 29 to grab Xiaomi India’s funds price over Rs 5,551 crore over the alleged violation of the Indian overseas trade legislation (Foreign Exchange Management Act).

The Karnataka High Court earlier this week stayed this ED order.

The company added that the assertion of Xiaomi world vp Manu Kumar Jain was recorded on 4 events, April 13, April 14, April 21 and April 26 whereas that of chief monetary officer (CFO) Sameer B S Rao was recorded on six events.

Rao’s assertion had been recorded on March 25, April 14, April 19, April 21, April 22 and April 26, it stated.
“However, no complaint was filed by them at any point of time during recording of statements at various occasions.” “Last statement of the officials of the company was recorded on 26.04.2022 and the seizure order was passed on 29.04.2022. It appears that allegation now made after passage of substantial time is an afterthought,” it stated.

The company stated the allegations of Xiaomi are “baseless and far from the facts.” Xiaomi is a tader and distributor of cellphones within the nation beneath the model identify of MI.

Source: www.financialexpress.com”

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