News Snapshot:
Xiaomi did not immediately comment on what India's government is calling "illegal outwards remittances." © Reuters April 30, 2022 19:36 JST Updated on April 30, 2022 19:55 JST | India Copy Copied NEW DELHI, April 30 (Reuters) -- India said on Saturday it had seized $725 million from the local bank accounts of China's Xiaomi Corp after a probe found the smartphone maker had made illegal remittances to foreign entities by passing them off as royalty payments. India's financial crime fighting agency, the Enforcement Directorate, had been investigating the Chinese company's business practices over suspected violations of Indian foreign exchange...
