Allegedly, three banks violated the currency legislation.
India has accused Xiaomi of illegal money transfers. The country's anti-crime agency has sent a notification about the charges against the Indian branch of the company, some employees of the organization and three banks. This information was shared by WION TV channel.
The investigation revealed the Chinese phone maker's illegal money transfers to foreign companies. The notice was issued according to the law, it concerned transfers of more than 55 billion rupees.
Xiaomi's Indian subsidiary sent notices to the company's chief financial officer Samir Bi Rao, as well as banks Citibank, HSBC Bank and Deutsche Bank AG.
The company began making illegal transfers in 2015, disguising the money as royalty payments. Last year, the company's assets in India were frozen. However, the company disputed the charges.