Karnataka High Court denies Xiaomi relief on the seizure of INR 5551.27 crore

The Karnataka High Court denied interim relief to Xiaomi India by upholding the confirmation of the Competent Authority appointed under the Foreign Exchange Management Act, 1999’s seizure of INR 5551.27 Cr (FEMA). During a hearing on Thursday (October 6), the Court denied the interim relief request.

A vacation bench of Justice NS Sanjay Gowda denied Xiaomi’s request for interim relief. The Karnataka High Court stayed the Enforcement Directorate’s (ED) seizure order issued on April 29 and allowed the company to continue operating its bank accounts on a day-to-day basis. Senior advocate Udaya Holla appeared before the bench on behalf of Xiaomi, requesting that the interim order be extended.