Caixin
May 13, 2022 08:15 PM
TECH INSIDER

Tech Insider: Xiaomi Cleared to Tap India Funds, Nio to Start Singapore Trading

A Nio store in Shanghai, on Dec. 27, 2021. Photo: IC Photo
A Nio store in Shanghai, on Dec. 27, 2021. Photo: IC Photo

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Xiaomi’s India unit cleared for operating funds until May 23

A court in India on Thursday issued an order allowing Xiaomi Corp.’s Indian subsidiary to make certain payments through its local bank accounts until May 23.

The Directorate of Enforcement, a money laundering watchdog under India’s Ministry of Finance, seized $725 million from Xiaomi’s bank accounts in India, citing investigation of allegedly illegal money transfers. 

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code