Karnataka HC extends stay on ED order freezing Xiaomi India assets
Bengaluru, May 23: The Karnataka High Court on Monday extended the stay on the Enforcement Directorate's (ED) order of freezing Rs 5,551 crore in the bank accounts of Xiaomi India.
Justice S G Pandit extended the stay till June 1, with the hearing of the case posted to that day.
The ED froze Xiaomi's accounts on April 29 alleging that it has violated the Foreign Exchange Management Act (FEMA) by illegally transferring money abroad to three companies under the guise of royalty payments.
In an interim order on May 5, a vacation bench of the High Court stayed this order.
"Operation of the order is stayed subject to the condition that petitioners will operate the bank accounts which are seized only for the purpose of meeting the expenses for carrying out the day-to-day activities of the company," the HC said in its interim order on May 5.
Subsequently on May 12, the HC modified its interim order and allowed the company to draw overdraft from the banks to meet these expenses. However, on both the occasions, the company was expressly barred from using the money to pay royalty to companies outside India.
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7 held for running fake call centre in South Kolkata
Kolkata (PTI): Seven people were arrested from the Parnashree area in the southern part of the city for allegedly running a fake call centre, a police officer said on Saturday.
Acting on a tip-off, police raided a house on Netaji Subhas Road on Friday night and found the fake call centre operating from the ground floor, he said.
Preliminary investigation revealed that the accused had set up a bogus company using forged documents and posed as employees of an antivirus firm to call citizens in the US, the officer said.
"The callers would gain the trust of victims and then use remote access to take control of their phones or other digital devices. The accused allegedly siphoned off large sums of money, running into millions of dollars, from victims' accounts," he said.
Five laptops, two WiFi routers, six mobile phones and four headsets were seized from the accused, he said, adding that the seven are being questioned to ascertain the full extent of the racket and to identify others involved.
