Xiaomi challenges FD seizure in Karnataka High Court

New Delhi: Xiaomi India has moved the Karnataka High Court to challenge a second attachment order by the income-tax department, seeking to seize Rs 3,700 crore fixed deposits of the Chinese smartphone company for alleged tax evasion.

The I-T department had passed a second attachment order on December 29, 2022, under similar grounds as the previous one, alleging that Xiaomi continues to remit money abroad under the guise of royalty, resulting in tax evasion.