Xiaomi "robbed" of 676 million dollars by the Indian government

If the term BAN immediately brings to mind the misadventure that Huawei is still experiencing with the American government, in reality the Indian government has also given a lot to talk about in 2022 due to relations with large technology companies. For example, in July they removed PUBG Mobile from the app stores and in August they banned VLC Media Player. But what most caught everyone's attention is that, at the beginning of May, they seized $ 676 million from Xiaomi for illegal payments.

A very unfortunate story that risks leading to much more disastrous consequences for the whole of India. In any case, the accusation against Xiaomi does not lapse and in fact an Indian court has refused to revoke the freezing of the assets of Xiaomi Corp for a value of 676 million dollars, at the request of Udaya Holla, the lawyer of Xiaomi. The reason? They want them to present bank guarantees for the $ 676 million worth of frozen assets first.

Xiaomi still does not recover its assets in India and already plans to settle in Pakistan

The bank guarantees that the Indian government has asked Xiaomi to present to recover its frozen assets require the deposit of the full amount, which would make it difficult for the company to operate, pay salaries and buy stocks before the Hindu festival of Diwali.

A real case of judicial arrogance that will see further ruling on October 14th. Xiaomi said they will continue to use all legal means in their possession to protect their reputation and interests.

It is clear, however, that a broken vase will never come back new and therefore it is rumored that Xiaomi, with a view to expanding its factories, will begin production in Pakistan by moving part of their machinery housed in India, thus making the future productive in this. country, uncertain and sure as long as its assets remain frozen.

Emanuele Iafulla

Emanuele Iafulla

Nerd, Geek, Netizen, terms that do not belong to me. Simply myself, technology lover and provocative as Xiaomi does with his products. High quality at fair prices, a real provocation for the other most famous brands.

Subscribe
Notify
guest

0 Post comments
Inline feedback
View all comments
XiaomiToday.it
Logo