India’s fraud agency recommends Xiaomi probe, The Economic Times reports
The Economic Times says the proposed investigation would examine fund movements and foreign investment law compliance. Xiaomi says it has not received an SFIO notice, the outlet reports.
TLDR
The Economic Times reports that India’s Serious Fraud Investigation Office (SFIO) has recommended a detailed probe into alleged business irregularities and foreign investment compliance at Xiaomi. The proposed investigation would examine fund movements and compliance with foreign investment law, the outlet says. Xiaomi says it has not received any SFIO notice, according to the report.
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