SFIO Seeks Detailed Probe Into Xiaomi India’s Business Model
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Xiaomi has landed in fresh trouble in India. The serious fraud investigation office (SFIO) has reportedly recommended a probe into alleged irregularities in the smartphone maker’s business model and compliance with the foreign exchange management act (FEMA).
According to Reuters, SFIO has recommended a detailed investigation to examine the movement of funds by Xiaomi. The agency has also reportedly called for probing whether the company sought mandatory investment approvals after India tightened
According to Reuters, SFIO has recommended a detailed investigation to examine the movement of funds by Xiaomi. The agency has also reportedly called for probing whether the company sought mandatory investment approvals after India tightened
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