The Enforcement Directorate on Wednesday summoned former MD of Xiamoi Manu Kumar Jain for questioning in a probe linked to the firm's business practices related to Indian foreign exchange laws. Jain, the former India head of Xiaomi, has been asked to furnish some financial documents linked to the company by appearing in person on Wednesday or sending it through an authorised representative. A Xiaomi spokesperson said they were “a law abiding and responsible company.
“We give paramount importance to the laws of the land. We are fully compliant with all the regulations and are confident of the same. We are cooperating with authorities with their ongoing investigation to ensure they have all the requisite information,” the spokesperson said. Proceedings under the FEMA are civil in nature and the final penalty, post adjudication, can be at least three times the amount contravened under the law. China's Xiaomi is among the biggest of India's smartphone sellers and the firm reportedly was on top in selling smartphones in India in 2021 followed by South Korea's Samsung Electronics. Xiaomi also deals in other tech gadgets in India, including smartwatches and televisions. Manu Kumar Jain, played a major role in bringing Xiaomi to India and making it a best-selling brand within a few years of launching operations.