Rs 5,551-crore FEMA violation: ED issues show-cause notices to Xiaomi, 2 senior executives, 3 foreign banks

The Enforcement Directorate (ED) on Friday said it has issued show-cause notices to Chinese mobile manufacturer Xiaomi, its chief financial officer and director Sameer Rao, former MD Manu Jain and three foreign banks for alleged foreign exchange violation of more than Rs 5,551 crore.