[Xiaomi 4.8 billion yuan may be confiscated by India] the Indian Law Enforcement Agency (ED) issued a document on June 9 that Xiaomi had issued formal notices to Xiaomi Technology India Private Co., Ltd., Xiaomi India Branch, some senior executives and Citibank because Xiaomi was suspected of violating the country's Foreign Exchange Management Law (FEMA) and "illegally transferring funds to foreign entities." As a result of the accusation, Indian authorities have previously seized a total of 55.51 billion rupees ($680 million) from Xiaomi, which is now worth nearly 5 billion yuan. This notice may mean that the above-mentioned frozen funds will be formally confiscated. (China Fund Daily)