ED Reportedly Asks Court to Re-Instate Freeze on Xiaomi’s Bank Assets Worth $725 Million

India’s financial crime fighting agency asked a court on Thursday to re-instate a freeze on $725 million (roughly Rs. 5,624 crore) in the Indian bank accounts of Xiaomi as it investigates fund transfers by the Chinese smartphone giant. The enforcement directorate had seized the money saying Xiaomi had illegally transferred funds abroad to three entities, … Read more