NEW DELHI: Refuting Chinese smartphone maker Xiaomi’s alleged claims that its top executives were threatened with ‘physical violence’ while recording their statements under coercion, Enforcement Directorate Said that all such statements are baseless and untrue.
“Allegation that the statements of the officers Xiaomi India The case taken under coercion by ED is untrue and baseless. In a statement issued on Saturday, the agency said, Xiaomi India officials voluntarily submitted their statements to the ED in the most favorable environment under FEMA.
According to a wire agency report, the former Xiaomi Managing Director was threatened by ED officials quoting Xiaomi’s May 4 court filing Manu Kumar Jain And its current Chief Financial Officer Sameer BS Rao and his families will have to face dire consequences if they do not give the statement desired by the agency.
The ED, however, said that both Jain and Rao had appeared before the agency and made statements ‘voluntarily’ and his statements were based on documents and information provided by the company during the course of the investigation.
“His statements are corroborated by the written reply submitted to the ED and material on record,” the agency said. Whereas Manu Jaini Appeared before the ED four times between April 13 and 26, Rao’s statements were recorded over six days between March 25 and April 26.
The ED said that “no complaint was filed by them at any point of time during recording of statements on various occasions. The final statement of the company officials was recorded on April 26 and the confiscation order (of Rs 5,551 crore) was passed on April 29. It appears that the allegation made now after a lapse of sufficient time is a thought. The agency said the allegations are baseless and far from facts.
The statement further said that it is reiterated that ED is a professional agency with strong work ethic and no coercion or threat has been made at any point of time to the officers of the company.
On April 29, the ED had seized Rs 5,551 crore in the bank accounts of Xiaomi India for violating Foreign Exchange Management Act (FEMA) rules where, according to the ED, the Chinese phone maker had illegally transferred a similar amount outside the country. was deposited.
“In the guise of various unrelated documentaries made between the entities of the group, the company remitted this amount under the guise of royalty abroad which is in violation of Section 4 of FEMA. The ED had then said that the company had also given misleading information to banks while sending money abroad.
The ED launched its probe against Xiaomi in February this year and tracked the company’s outward remittances from 2014 when it started operations in India. The investigation revealed that Xiaomi India allegedly procures all its mobile sets and other products from manufacturers in India and had not received any service from the three foreign based entities to whom it had made such huge remittances.
“Allegation that the statements of the officers Xiaomi India The case taken under coercion by ED is untrue and baseless. In a statement issued on Saturday, the agency said, Xiaomi India officials voluntarily submitted their statements to the ED in the most favorable environment under FEMA.
According to a wire agency report, the former Xiaomi Managing Director was threatened by ED officials quoting Xiaomi’s May 4 court filing Manu Kumar Jain And its current Chief Financial Officer Sameer BS Rao and his families will have to face dire consequences if they do not give the statement desired by the agency.
The ED, however, said that both Jain and Rao had appeared before the agency and made statements ‘voluntarily’ and his statements were based on documents and information provided by the company during the course of the investigation.
“His statements are corroborated by the written reply submitted to the ED and material on record,” the agency said. Whereas Manu Jaini Appeared before the ED four times between April 13 and 26, Rao’s statements were recorded over six days between March 25 and April 26.
The ED said that “no complaint was filed by them at any point of time during recording of statements on various occasions. The final statement of the company officials was recorded on April 26 and the confiscation order (of Rs 5,551 crore) was passed on April 29. It appears that the allegation made now after a lapse of sufficient time is a thought. The agency said the allegations are baseless and far from facts.
The statement further said that it is reiterated that ED is a professional agency with strong work ethic and no coercion or threat has been made at any point of time to the officers of the company.
On April 29, the ED had seized Rs 5,551 crore in the bank accounts of Xiaomi India for violating Foreign Exchange Management Act (FEMA) rules where, according to the ED, the Chinese phone maker had illegally transferred a similar amount outside the country. was deposited.
“In the guise of various unrelated documentaries made between the entities of the group, the company remitted this amount under the guise of royalty abroad which is in violation of Section 4 of FEMA. The ED had then said that the company had also given misleading information to banks while sending money abroad.
The ED launched its probe against Xiaomi in February this year and tracked the company’s outward remittances from 2014 when it started operations in India. The investigation revealed that Xiaomi India allegedly procures all its mobile sets and other products from manufacturers in India and had not received any service from the three foreign based entities to whom it had made such huge remittances.