FEMA violation: Karnataka HC reserves verdict on Xiaomi plea
Bengaluru, Nov 17: The Karnataka High Court has reserved its judgement on the plea filed by Chinese technology firm, Xiaomi challenging the order passed by the Enforcement Directorate (ED), seizing Rs 5,551 crore in its bank accounts for alleged violation of FEMA rules.
Justice M Nagaprasanna concluded the hearing of arguments today and reserved the judgement.
Xiaomi Technology India Pvt Ltd filed the petition on October 3, challenging a September 29 order of the Competent Authority appointed under the Foreign Exchange Management Act (FEMA), which confirmed the April 29 seizure order of the ED to freeze the amount in the company's bank accounts.
The ED had earlier this year ordered the seizure of Rs.5,551.27 crore in the bank accounts of Xiaomi for allegedly violating FEMA rules and transferring money in the guise of royalty to three companies outside India, in the USA and China.
The company had moved the high court earlier this year against this order. However, the court had ordered it to approach the Competent Authority under FEMA.
When the competent authority upheld the ED order, Xiaomi approached the HC again.
Xiaomi claimed that the Competent Authority did not allow a representative of a foreign bank to examined during the hearing.
The company in the new petition has also challenged the validity of the Section 37-A of FEMA, which relates to assets held outside India by a company incorporated in India.
The ED has claimed that there was only Rs.1,900 crore in the accounts of Xiaomi now from the earlier Rs.5551.27 crore.
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Vartha Bharati–Sankalp predictions align closely with Karnataka bypoll results
Bengaluru: The Vartha Bharati–Sankalp election analysis has shown a high level of accuracy in predicting the outcome of the recent Karnataka Assembly by-elections held in May 2026, correctly calling winners in both constituencies and closely estimating vote share trends.
The by-elections were held in Bagalkot and Davanagere South, drawing significant political attention as both seats were seen as key tests for the ruling Congress and opposition BJP.
According to the analysis, Vartha Bharati–Sankalp had made three major projections ahead of the results the winning party, vote share percentages, and margin of victory.
In both constituencies, the platform accurately predicted that the Congress would emerge victorious. The outcome matched the projections, with Congress candidates winning in Bagalkot and Davanagere South.
In terms of vote share, the predictions were largely in line with the final results. In Bagalkot, the BJP’s vote share was forecast in the range of 40 to 46 per cent, while the actual figure stood at 42.9 per cent. The Congress vote share, however, exceeded expectations, with the party securing 55.4 per cent against a projected range of 43 to 48 per cent.
The margin of victory in Bagalkot turned out to be significantly higher than anticipated. While the projection had placed the margin between 2,000 and 3,500 votes, the final margin was around 22,332 votes.
In Davanagere South, the predictions also remained largely accurate. The Congress vote share was projected between 43 and 51 per cent, and the final figure stood at 43.9 per cent. The BJP was expected to secure between 42 and 50 per cent but ended with 40.3 per cent.
The analysis had also identified the role of SDPI as a potential spoiler in the constituency. While its vote share was estimated around 6 per cent, the party eventually secured around 12 per cent of the vote.
The margin of victory in Davanagere South was predicted to be between 1,500 and 2,600 votes. The actual margin was higher at around 5,708 votes, though the contest remained relatively close as anticipated.
Overall, the performance of Vartha Bharati–Sankalp stood out for correctly identifying the winning parties in both seats and maintaining close accuracy in vote share estimates, with only limited deviations in specific cases.
