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The ED seizes ₹5,551 crore from Xiaomi’s bank accounts in China

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3 years ago

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The ED seizes ₹5,551 crore from Xiaomi’s bank accounts in China

On Saturday, the Enforcement Directorate announced that it had seized $5,551.27 crore from Xiaomi Technology India Pvt Ltd, a ‘wholly-owned subsidiary of the China-based Xiaomi group’, under the Foreign Exchange Management Act of 1999. The money was seized in February in connection with alleged ‘illegal outward remittances’ in bank accounts belonging to the Chinese smartphone giant, according to the investigation agency.
“Xiaomi India is a wholly-owned subsidiary of the Xiaomi Group, based in China. The Enforcement Directorate seized the money from the company’s bank accounts, totaling Rs 5,551.27 crore “In a statement, the agency said.

“Under the guise of royalty, the company has remitted foreign currency equivalent to 5,551.27 crore to three foreign based entities, one of which is a Xiaomi group entity,” the ED said. According to the ED, such large sums in the name of royalties were remitted on the orders of Chinese “parent group” entities.

According to the ED, Xiaomi India receives fully assembled mobile phones and other products from Indian manufacturers, but has not received any services from the three foreign-based entities to whom the funds were transferred.

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“Under the cover of various unrelated documentary façades created amongst the group entities, the company remitted this amount in the guise of royalty abroad, which is a violation of section 4 of the FEMA,” according to the agency.

Xiamoi has also been accused of giving banks “misleading information” when remitting money overseas.

It had summoned former India managing director Manu Kumar Jain for questioning. Reuters reached out to Jain and the agency for comment, but neither responded.

According to Reuters, Xiaomi complies with all Indian laws and is “fully compliant with all regulations.” “We’re working with authorities on their ongoing investigation to make sure they have all of the information they need.”

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The ED is investigating existing business structures between Xiaomi India, contract manufacturers, and the parent entity in China, according to a Reuters report.

According to Reuters, fund flows between Xiaomi India and its parent company are being scrutinised, including royalty payments.

Xiaomi was India’s top smartphone seller in 2021, with a 24% market share.

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YouTube

YouTube marks 20th anniversary by launching new useful features What’s new

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3 weeks ago

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April 24, 2025

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YouTube marks 20th anniversary by launching new useful features What’s new

YouTube has celebrated its 20th anniversary with several new features, including functional upgrades and new features for YouTube TV. The platform has introduced personalised radio stations via Ask Music, which is available to YouTube Premium and YouTube Music users on both iOS and Android devices. Additionally, YouTube is rolling out the ability to fast-forward.

YouTube TV members will gain the ability to build their own multiview experiences, starting with a selection of non-sports content from a small group of popular channels. The platform is introducing improved navigation, better playback quality, and easier access to features such as comments, channel information, and more through videos at 4x speed, providing more.

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  1. Delete Unnecessary Emails: Regularly clearing unwanted emails helps maintain storage. Open Gmail in your browser or mobile device, go to your Inbox, Social, or Spam folder, filter messages, select emails to delete or check the box to select all emails in the folder, and click the “Delete” button. The emails will be moved to the Trash folder Empty Your Spam and Trash Folders: If deleted emails remain in your Trash.
  2. Unsubscribe from Unwanted Emails: Open a promotional email and click “Unsubscribe” at the bottom of the email to reduce future accumulation April 2025 — YouTube, the world’s largest video-sharing platform, is celebrating its 20th anniversary with the launch of several innovative features aimed at enhancing user experience, empowering creators, and embracing the future of digital content.

  3. 1. AI-Powered Video Summaries
    One of the most anticipated features is AI-generated video summaries, which will now appear below eligible videos. This allows viewers to preview content quickly and decide whether to watch the full video. The summaries are automatically created using advanced natural language processing and are designed to boost discoverability and engagement.

  4. 2. “Jump Ahead” Smart Chapters
    YouTube is introducing smart chapters with “Jump Ahead” capabilities, allowing viewers to skip to the most engaging parts of videos based on audience retention data. The feature leverages machine learning to identify sections that retain viewers the most and gives users a prompt to “Jump Ahead” with a single tap.

  5. 3. Creator Insights Dashboard Upgrade
    For content creators, YouTube has upgraded its Creator Studio Dashboard with enhanced real-time analytics, audience mood tracking, and AI-suggested titles and tags. The platform’s algorithms now offer dynamic suggestions for improving performance, personalized for each creator’s channel and content style.

  6. 4. YouTube Create App Expansion
    Following positive feedback from beta users, YouTube is officially rolling out the YouTube Create app in over 30 new countries. This free mobile video editing tool includes features like auto-captions, royalty-free music, filters, and multi-clip editing — giving creators more control without the need for expensive software.

  7. 5. Enhanced Live Shopping Tools
    With e-commerce booming, YouTube is expanding its Live Shopping tools, allowing creators to tag mini-social network within the platform. These tools are products, integrate affiliate links, and host shoppable livestreams with real-time viewer interaction. The new update supports multi-vendor support, making collaborations with brands smoother and more profitable.

  8. 6. Smart TV Upgrades
    YouTube is giving its TV interface a refresh, introducing a sleeker design with quicker access to playlists, subscriptions, and smart recommendations. A new “Ambient Mode interactive content suggestions and previews when the app is idle, turning the TV into a dynamic home hub for entertainment.

  9. 7. Community Tab Enhancements
    To improve engagement, YouTube is enhancing its Community Tab with interactive stickers, polls, countdowns, and quizzes — turning it into a mini-social network within the platform. These tools are aimed at helping creators keep their audience involved even between video uploads.
  • Group Media Publication
  1. Construction, Infrastructure and Mining   
  2. General News Platforms – IHTLive.com
  3. Entertainment News Platforms – https://anyflix.in/

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