SFIO seeks nod for deeper probe into Xiaomi India

New Delhi: The Serious Fraud Investigation Office (SFIO) has sought permission for a deeper probe into Chinese smartphone brand Xiaomi, seeking the ministry of corporate affairs' approval to examine fund transfers and whether the company secured mandatory investment approvals under relevant Indian laws. Regulations governing Chinese investments were tightened after 2020 and have only recently been relaxed.

"Xiaomi India has not received any notice or communication from the SFIO. As we have always maintained, we accord paramount importance to the laws of the land and comply with them fully at all times," a Xiaomi spokesperson said.