ED summons Xiaomi global vice-president Manu Kumar Jain in forex case

It's learnt that ED had initiated its discreet inquiry in February under the Foreign Exchange Management Act (FEMA) and found evidence of remittances involving a significant amount

Chinese mobile phone maker Xiaomi has come under the Enforcement Directorate (ED) scanner. The federal agency has summoned its global vice-president Manu Kumar Jain in connection with alleged foreign remittances of Rs 1,000 crore, which according to the agency is not compliant with the foreign exchange rules.

“This is the third summons issued to him (Jain), after he failed to appear on the earlier summons,” a senior official said. He has been asked to appear before the agency’s Bengaluru office on Wednesday, the official said without giving details.

According to sources, Jain had been Xiaomi’s former managing director of its India operations