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Xiaomi misled Deutsche Bank on illegal royalty payments: ED
short by Srishty Choudhury / on Friday, 4 November, 2022
The Enforcement Directorate (ED) has accused the India unit of Chinese smartphone maker Xiaomi Corporation of misleading its banker Deutsche Bank for years by claiming it had an agreement for payment of royalties when it had none, according to legal documents. Xiaomi is involved in a face off with ED since the latter froze $670 million of its bank assets.
read more at Reuters