HC backs ED, says Xiaomi FEMA case to be decided by ‘competent authority’

New Delhi: The Karnataka High Court has backed the enforcement directorate’s (ED) stance and directed the competent authority under FEMA to hear and decide in 60 days Xiaomi’s appeal against the agency’s order seizing the smartphone maker’s assets worth more than Rs 5,500 crore.

The court, in its ruling Tuesday, also said that its interim order to stay the asset seizure will continue until the competent authority passes an order.